Foreign Internet Firms Struggle in China
Steven Schwankert writes on InfoWorld:
For the second time in two years, a major U.S. Internet company has chosen to offer its subsidiary to a local company, after failing to be competitive and attain profitability in China.More here.
EBay's announcement Wednesday that it will move from stand-alone ownership of its eBay EachNet subsidiary and enter into a joint venture with Tom Online capped a three-year slide in eBay popularity in China. When the auction giant bought the 67 percent of Shanghai-based EachNet that it didn't own in 2003, that site held about 90 percent market share. As of Wednesday's sale, it has about 29 percent.
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