Certainly an argument for buying up domains in bulk I suppose, the recent eBay purchase of Rent.com is one of the more juicy acquisitions to be sure. The BBC has given details that leads me to believe that this is a deal that would have made Donald Trump proud. A transaction of $385m in stocks and $30m in cash is definitely enough to get my blood pumping, how about yours?
eBay will pay $385m in stocks and $30m in cash, with the deal set to be completed in the first quarter of 2005.
It has been expanding both at home and abroad this year, and has bought into firms in South Korea and Germany.
Rent.com, which helps users find flats as well as housemates, has annual sales of about $40m and was launched in 2001.
“The acquisition will enable eBay to expand into a new segment of the online real estate market,” the auction house said in a statement.
It also will allow “Rent.com to continue to scale its business with the resources and expertise of eBay”.
The purchase is expected to have a slight effect on eBay’s earnings next year, the company said.
