Saturday, December 20, 2014
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
T-Mobile to Pay $90 Million To Settle Case With FCC
New Trojan Targetted Banks Wordlwide
FBI Confirms North Korea Was Behind Sony Hack
Apple Responds To BBC's Allegations Over Working Conditions In Chinese Factory
BlackBerry Returns To Cash Flow
Comparison: Quantum Dot Vs. OLED Displays
Toshiba and SK Hynix Reach Settlement in Lawsuit Ahead Of CES
Google Concerned About MPAA's Actions To Revive SOPA
Active Discussions
Digital Audio Extraction and Plextools
Will there be any trade in scheme for the coming PSP Go?
Hello, Glad to be Aboard!!!
Best optical drive for ripping CD's? My LG 4163B is mediocre.
Hi All!
cdrw trouble
CDR for car Sat Nav
DVD/DL for Optiarc 7191S at 8X
 Home > News > General Computing > eBay to...
Last 7 Days News : SU MO TU WE TH FR SA All News

Wednesday, December 20, 2006
eBay to Downgrade Presence in China


EBay announced that it will hand over control of its main website in China to Beijing-based TOM Online in the hope a local offering will prosper where the US firm floundered.

The San Jose, California, Internet auction house had operated its own site in China but said it would fold it into a joint business to be 51 percent owned by the Chinese Internet company, retaining 49 percent for itself.

While eBay insiders described the move as a strategic retrenching calculated to better tailor an online auction site to Chinese culture, industry analysts described it as a humiliating surrender in the booming China market.

China is openly coveted business terrain by Silicon Valley firms and the number of Internet users in that country is reported to be second only to the United States online population.

While half of eBay's business last year was in markets outside the United States, its use in China has been sluggish, company figures indicated.

EBay said that the launch of a joint auction site would mean that it was no longer going it alone in China, where it has struggled to wrest market share from Chinese rival Alibaba.com's TaoBao auction site.

TOM reportedly has 75 million active users and was described as being in tune with cultural nuances such as a preference for paying via escrow and heightened wariness regarding online auctions.

The TOM-eBay site had yet to be named and was to launch in China some time next year.

EBay said it would operate its own site for people in China interested in selling to buyers outside the country.

EBay will initially contribute 40 million dollars to the alliance and Tom will contribute 20 million dollars.

TOM Online, which is also listed on New York's Nasdaq market, styles itself as China's leading wireless Internet company.


Previous
Next
Philips and CMC Conclude VEEZA Licensing Deal for CD-R Discs        All News        YouTube Meets Japan Media on Copyright Protest
Yahoo! China Wins Unfair Competition Lawsuit     General Computing News      YouTube Meets Japan Media on Copyright Protest

Get RSS feed Easy Print E-Mail this Message

Related News
eBay Asks Users To Change Passwords
AMD Rumored To Work With Toshiba On Radeon SSDs
Icahn Ends Pressure On eBay Over Paypal
Icann Calls eBay Governance 'Dysfunctional'
eBay to Acquire Braintree
Ebay Same-day Delivery Expanded
eBay To Open Interactive Storefronts
New Logo For eBay
eBay Acquires BillSAFE
eBay Launches Open Commerce Ecosystem, Partners With Facebook
eBay to Acquire Zong
EBay Takes On Amazon.com With Proposed GSI Commerce Acquisition

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2014 - All rights reserved -
Privacy policy - Contact Us .