EveryJoe » ebay south korea http://www.everyjoe.com Sports News - Tech Reviews - Entertainment - Life Tips for EveryJoe Tue, 24 Nov 2009 22:30:27 +0000 http://wordpress.org/?v=2.8.4 en hourly 1 eBay Purchases Gmarket for $1.2 Billion http://www.everyjoe.com/articles/ebay-purchases-gmarket-for-12-billion-dollars/ http://www.everyjoe.com/articles/ebay-purchases-gmarket-for-12-billion-dollars/#comments Thu, 16 Apr 2009 03:56:57 +0000 Stephen Kersey http://www.bizzia.com/?p=22279 Post from: EveryJoe

eBay Purchases Gmarket for $1.2 Billion

]]> This week, eBay made an aggressive move in South Korea by purchasing Gmarket for $1.2 billion. Gmarket is a marketplace with a large presence in South Korea and eBay plans to align it with Internet Auction Company, a property eBay already owns that also operates in South Korea.

EBay Building (Image: Flickr)

eBay Building (Image: Flickr)

The plan outlined by eBay has the California based company purchasing the Gmarket shares for $24 each and the company says they will acquire at least two-thirds of Gmarket’s shares. Many experts believe eBay is targeting South Korea due to its emerging market and the fact that internet commerce is the company’s specialty.

In recent weeks, eBay has made a lot of news regarding sales of their properties. They reportedly sold StumbleUpon back to its founders and they are supposedly considering a similar move with Skype. In recent years, eBay has been viewed as a company in trouble but eBay insists that their recent moves are simply an attempt to restructure and consolidate their business model.

Post from: EveryJoe

eBay Purchases Gmarket for $1.2 Billion

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