Friday
eBay buys Indian auction site
eBay is to buy one of India's leading online auction sites as part of a continued expansion across Asia. The US firm is paying £27m for Baazee.com, a Bombay business with over one million registered users.
Baazee, like eBay, allows users to buy and sell goods online such as computers, jewellery, music and books. The deal will give eBay access to one of the world's most currently underdeveloped e-commerce markets but one with huge growth potential. Internet usage in India is relatively low and is largely restricted to urban areas. However, user numbers are forecast to rise rapidly over the next two years from their current level of 17 million to 30 million. eBay has been steadily expanding across Asia.
Last year it paid £88m to acquire EachNet, the most popular online auction site in China. eBays current Asian Markets include South Korea, Taiwan, Singapore and China. more..
Baazee, like eBay, allows users to buy and sell goods online such as computers, jewellery, music and books. The deal will give eBay access to one of the world's most currently underdeveloped e-commerce markets but one with huge growth potential. Internet usage in India is relatively low and is largely restricted to urban areas. However, user numbers are forecast to rise rapidly over the next two years from their current level of 17 million to 30 million. eBay has been steadily expanding across Asia.
Last year it paid £88m to acquire EachNet, the most popular online auction site in China. eBays current Asian Markets include South Korea, Taiwan, Singapore and China. more..
Comments:
Post a Comment
