Trading on its reputation, the auction giant gambles on an Indian service
Friday, July 30, 2004
“Last month, eBay, the world?s largest online auction site with a market capitalization of $52 billion, announced an agreement to acquire Baazee for $50 million. The move follows eBay?s acquisition of EachNet in China and Korea?s Internet Auction Company in 2003, and Taiwan?s NeoCom Technology in 2002. Like many other Internet companies, from Yahoo, to Google, to Amazon, eBay has to make a leap of faith when it expands into emerging markets. While India, for example, has a relatively small number of Internet users and credit cards compared to the U.S., its potential for growth entices foreign companies, eager to grab as much of the market as early as they can.” Read full article here.
Source: Red Herring