By Clare Saliba E-Commerce Times
03/30/01 10:53 AM PT
For the fourth quarter of 2000, eBay reported that its European
marketplaces generated over $137 million in gross merchandise sales.
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According to the San Jose, California-based company, the expansions
will enable it to penetrate regional markets with a
minimal investment in technology.
eBay said that the new services incorporate the functionality
of eBay's existing European and U.S. operations, while also
featuring locally listed items that are up for auction.
The company plans to use the sites to
promote its online marketplace to new audiences in those regions.
eBay also said that the stepped-up regional access
will smooth the shipping process for buyers and sellers,
because goods would not have to be transported across national borders.
For now, trading will only be conducted in currencies
currently available throughout its network, but eBay
said that users can finalize payments in any currency they choose.
The Internet auction powerhouse has said that it aims to
be in 10 countries by the end of this year and 25 countries
by the end of 2005.
Globe Trotting
Although a flurry of dot-coms have floundered in recent months, eBay has
continued to bolster its position in the burgeoning Internet auction
market. According to industry analysts, Europe is an especially key
online battleground since its e-commerce growth rates are poised to explode.
eBay began mounting its expansion plans in 1999, opening
country-specific sites in the UK and Canada. Since then,
it has accelerated its strategy by launching services in
Germany, Austria, Japan, Australia, Italy and Korea.
During the fourth quarter, eBay reported that its
European marketplaces generated over US$137 million in gross merchandise sales.
Striking a Deal
eBay's entry into Ireland, New Zealand and Switzerland
comes one month after the company inked a deal to purchase
European online auctioneer iBazar S.A. The all-stock acquisition,
estimated to be worth up to $112 million, is expected to
close during the second quarter of this year.
Based in Paris, France, iBazar hosts online auction
sites in eight countries -- Belgium, Brazil, France, Italy, the Netherlands,
Portugal, Spain and Sweden -- and has 2.4 million users.
In addition to fueling its push into the continent,
eBay's buyout of iBazar will render it a considerable foe for
homegrown rivals such as the popular QXL Ricardo Plc, which
conducts consumer-to-consumer and business-to-consumer auctions
across 13 Western European countries.
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