EBay confirms China venture with Tom Online
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EBay Inc. on Tuesday confirmed it is forming a joint venture with Chinese partner Tom Online as the U.S. Web auction giant switches strategies for tapping the promising China market where it has so far struggled.
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EBay announced that it will hand over control of its main website in China to Beijing-based TOM Online in the hope a local offering will prosper where the US firm floundered.
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NEW YORK -- In a diversification move, online auctioneer eBay Inc. is buying the privately held Rent.com, which specializes in Internet listings of apartment and house rentals, for about $415 million in stock and cash.
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Lower listing fees have arrived at eBay.
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NEW YORK, September 2 (New Ratings) - eBay (EBAY.NAS) intends to continue with its expansion in Asia with an increased stake in Internet Auction Co.
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(InfoWorld) - EBay will close its China site and begin a relationship with Tom Online to create a replacement, news reports indicated Tuesday. After failing to gain significant market share in China's consumer auction market, eBay will join Tom.com in creating a Tom.com-operated site in its stead, The Wall Street Journal said. Attempts to reach both companies for comment were immediately unsuccesful. Rumors have been circulating for months that eBay was preparing to exit the China market, but were readily denied by the company. EBay bought Chinese auction site Eachnet in 2003 for $150 million. Eachnet was founded in Shanghai in the late 1990s by local entrepreneur Shao Yibo, and its Chinese name, "Yi Qu," still represents the site in China. Alibaba.com's TaoBao siteÂ leads the consumer auction market, with the company claiming 30 million registered users and as much as 70 percent market share.
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(InfoWorld) - Is DellÂ ready to abandon its direct sales model to boost its prospects in China? The company says no. Several Chinese media outlets recently reported Dell is in talks to buy Chinese PC maker Founder Technology Group, citing a report by a Chinese newspaper, National Business Daily. The newspaper did not name its source and appears to have removed at least one related story, published on Dec. 15, from its Web site. A Dell acquisition of Founder would leave the U.S. PC vendor with a nationwide network of retail shops in China, ending its long-standing reliance on direct sales. Sharon Zhang, a spokeswoman for Dell China, declined to comment on the acquisition reports, but said the company has no plans to change its direct sales model. "We are committed to the direct sales model in China," Zhang said. Founder executives in Beijing could not immediately be reached for comment. During 2005, Founder was the second-largest PC vendor in China with 12.3 percent of the market, according to industry analyst IDC. The company trailed Lenovo Group, which held 32.8 percent of the market, and managed to stay one step ahead of Dell, which was the largest foreign PC vendor in the country, with an 8.8 percent share of the market, IDC said. While rumors of Dell's interest circulate, Chinese media reported that at least one Chinese company is interested in Founder. The China Business News newspaper reported Monday that Haier Corp. was in talks to acquire Founder, citing an inside source at the consumer electronics and whitegoods producer based in Qingdao, northern China. Haier could not be reached for comment.
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eBay (Quote, Chart) has acquired a popular online classifieds Web site in the Netherlands, the company said Wednesday. The San Jose, Calif.
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Spammers get T-shirt bazaar MySpace founder Chris DeWolfe has hinted the Murdoch-owned social network will bring in eBay to provide it with ecommerce features.â¦
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Alibaba.com Ltd., one of China's fastest-growing technology companies, reached its goal of raising $1.5 billion in its initial public offering Saturday, people close to the deal said.
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Online auction giant eBay has made public a promotional site in the Vietnamese language at eBay.vn, hoping to benefit from Vietnam&#39;s economic and trade potential, the company said Thursday.
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EBay Inc. CEO Meg Whitman emphasized her commitment to the Chinese e-commerce market Tuesday, announcing a new Web site and joint venture with a Beijing-based Internet company.
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SAN FRANCISCO : EBay announced late it has agreed to buy three million shares of South Korea&#39;s Internet Auction for 325 million dollars in cash.
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(InfoWorld) - EBay launched its Kijiji International classified advertising site in the U.S. Friday. Previously available in countries including Russia, China, and India, the U.S. Kijiji site went live with little fanfare from its auction parent, which owns 25 percent of Kijiji's main U.S. rival, Craigslist. Posting ads on the site is free, and unlike eBay, which can facilitate payment for transactions via its PayPal payment subsidiary, Kijiji plays no role in completing sales. However, it's easy to see how eBay could plug in both PayPal and Skype telephony, which it also owns, into Kijiji to create a kind of supercharged classified site that Craigslist would then require outside partnerships to match. Although it is offering classified ads for all 50 U.S. states, those placing ads must first choose a nearby city for classification, and that list is far from comprehensive. For example, New Jerseyans looking to sell their wares must classify them as being closest to Newark or Atlantic City -- not necessarily convenient choices for people residing elsewhere in the state. Unlike its category-killing sibling companies PayPal and Skype, Kijiji, which means "village" in Swahili, is one of eBay's least-known brands since its 2005 launch, in part because it did not have a U.S. presence. The site gives no indication that it is an eBay property, offering no "About Us" link or corporate information. The Kijiji Canada site does however contain a link to eBay Canada. Its China site clearly displays an eBay logo at the bottom of the page.
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Blog: At the eBay Developers Conference in Boston, eBay executives talk about their strategy for building a "commerce operating system."
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Google technology will power China.com's online search engine under the terms of a partnership announced.
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China's largest maker of PCs is one of the potential buyers, newspaper says.