EBay sets sights on classified ad acquisitions
Silicon Valley / San Jose Business Journal
Internet auction house eBay Inc. may begin buying companies with low evaluations as a way to boost its classified ad business, according to a report Wednesday.
The Wall Street Journal said San Jose-based eBay (NASDAQ:EBAY) will target classified-ad sites that have positions in market segments where eBay is not yet a player.
The company owns about 25 percent of online classifieds company Craigslist as well as sites in Germany and Spain.
The Journal said eBay's classifieds business generates from 5 percent to 10 percent of the company's yearly revenue, and eBay estimates about 82 million people visit its classifieds sites every month.