Going, going, gone

eBay buys Korean online auction house - Internet Auction - a further example of global internet companies feasting on their Asian cousins.

eBay, the world's largest and best known internet auction company, has agreed to buy Internet Auction, the largest Korean online auction company, for $120 million in cash. With 2.8 million users, this price equates to almost $43 per registered user.

The deal is the latest example of global internet companies acquiring their Asian counterparts as one of the quickest ways to get growth. Although this deal will increase eBay's 2001 revenue by $20 million, it will actually diminish its...

To continue reading, please login or register for free

Click for more on:

Print Edition

FinanceAsia Print Edition

CONFERENCES

  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...