SubscribeRumor: Tom to buy eBay Eachnet
CCID reported Tom will announce the acquiring of eBay Eachnet in several days. How much will that cost? The report said eBay has invested 2.8 billion USD in China. So this won’t be a cheap deal.
Why eBay should sell their China business? eBay is losing their share in China C2C market. According to a CNNIC survey in Beijing, Shanghai and Guangzhou in 2005, Taobao has 67.3% market share, while eBay Eachnet has 29.1%.
eBay China has just named their new CEO several days ago. The CCID report says this is a preparation for selling their China business. The new CEO Jeff Liao is with a financial background not Electronics business.
Tom is currently the chief agent of Skype, another eBay service. If they buys eBay Eachnet, they will take over all eBay’s business in China.
eBay Eachnet has responded that they are not going to withdraw from China market. But they hasn’t commented on the rumor yet.
Update: There is also rumor that eBay is in talking with Tencent on acquisition.
Update: Tom stock dropped due to the rumor. CEO of Tom has cofirmed this as a rumor.
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[...] Currently, Taobao is obviously the market leader in China’s C2C market, followed by Eachnet of Tom Online and Paipai of Tencent. According to iResearch, Taobao took over 70% market share by the end of March 2007. The transaction volume of Taobao for the first half of 2007 is RMB 15.7 billion, tripled than one year ago. [...]