eBay China and Tom Partnership To Announce This Week?

Written by Tangos on December 18, 2006
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The rumor that eBay will quit Chinese market by selling its asset in China to Tom Online has been prevailed for quite a long time. Today famous blogger Keso published an email today sent to him by who claimed himself an employee of eBay and “know everything on this deal”. The email leaked part of the press release of eBay Eachnet’s partnership with Tom Online, and complaint about the company.

About the partnership with Tom Online:

eBay Inc. (Nasdaq: EBAY) today announced two partnerships that will bring enhanced online and mobile trading and payment opportunities to buyers and sellers in China, and mark the next phase of eBay’s participation in this rapidly growing market.

The first partnership is a 49:51 joint venture with online portal and wireless operator Tom Online to develop and operate eBay’s online marketplace in China

Meanwhile, Paypal will invest in UMPay, a mobile paying service provider jointly held by China Mobile and China Unionpay.

PayPal, an eBay company and the global leader in online payment solutions, today announced that it is making a US$ 105 million investment into a new venture in which it will have a 33% stake. By June 2007, PayPal China will offer its domestic service to consumers and businesses through the new venture via relationships with UMPay, a leader in mobile payments in China.

And he complaint on the company and the deal:

I am one of the many disgruntled Eachnet employee. I have suffered through the incompetence of Ebay leaders for many years. I admit I am greedy. I stay for money. But Ebay has screwed up our Company and in China.
…
They have given Tom everything, and get nothing in return. They even have to “donate” millions of USD to Tom to get them to take the deal!
…
Since our founder Shao Yi Bo was pushed out by Ebay top management, we have had german, American, Taiwan and Hong Kong leadership: no real Chinese. No wonder we are beaten at every turn by Jack Ma team.

Ebay failed in China because it relies on one leader who did not understand the market at all: Meg Whitman. Meg Whitman is Ebay Mao Zedong. No one dare tell her the truth. She exports her cultural revolution and it dont work in China. She is clearly a smart lady but is a no-nothing about China, taken advantage of at all turns.

We don’t know whether the email was really from an employee of eBay or not. Click here for the full text of the email.

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3 Responses to “eBay China and Tom Partnership To Announce This Week?”

  1. Blind Auctions Article on February 19th, 2007 8:13 am

    eBay must be really desperate to get conned into that deal with Tom Online. I wonder why it took eBay this long to withdraw from China, don’t they have any exit strategy at all?

  2. Sea McDonald on February 28th, 2007 2:34 pm

    Ebay and Paypal business practices need to be really examined. Paypal routinely freezes customer’s accounts for up to 180 days . Ebay puts on thousands of training Ebay classes at local colleges to entice average people to sell products on Ebay. Many companies sell products to these people to sell on Ebay. Many people quit their job, take out second mortgages out on their homes to finance the widget they want to sell on Ebay. Little do they know that they can have their account suspended in one hour, one day one month etc and their Ebay business is history. Ebay buyers and sellers are mere pawns that are used to drive the price of Ebay’s stock up. Has the hurricane Ebay hit your Virtual Store yet? If it has not, it’s just a matter of of time! When it does your business is history in an instant. Ebay destroys thousand of on-line Ebay business monthly. They are not easy to contact. They send Web Form letters that have nothing to do with your enquiries when you get suspended. Most Ebay departments cannot be reached by phone. If you make too many phone calls for example that is a sure way to have your account suspended for life. It is all about the price of their stock, screw the customers buyer s and sellers alike!. Paypal and Ebay share information that they use against their buyers and sellers. Type in “Suspended Account EBAY” on Google and you will see thousands of people on various websites that have been destroyed by Ebay. The institutional investors really need to think twice before investing in an of Ebay’s companies. They are currently involved in a battle as a result of violating three out of four patents that belong to MercExchange see http://en.wikipedia.org/wiki/EBay_v._MercExchange They thought they could out spend this company and dragged this company all the way to the Supreme Court. A very large Class Action Suit is just a matter of time before Ebay is worth nothing. Please think twice before investing in any Ebay owned company. When will CNN, 60 Minutes or FOX do an investigation on Ebay and Paypal? Who will be the first to blow the lid on this unscrupulous company? They need to be stopped.

    www.paypalsucks.com
    www.paypalwarning.com
    blogs.ebay.com/cypress-surplus
    www.no-paypal.com
    www.trashcity.org/ARTICLES/PAYPAL.HTM
    ebaysucks.blogspot.com
    www.suspendedfromebay.com
    www.fightebay.com

  3. Xiaoxishu Launches New Version with Pay Per Drag : China Web2.0 Review on August 7th, 2007 10:51 am

    […] As you probably has guessed, some of the core members in the team are from Ebay/Eachnet, whose business has been merged into Tom by the end of last year. And their main targeted users are those online shop owners in Taobao, New Ebay/Tom, Paipai of Tencent. […]

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