Ebay announced on Wednesday, 1 June, 2005, it agreed to buy Shopping.com, which enables consumers to compare products online and to read consumer reviews.
Quoted:
The purchase price of about USD$620 million in cash, or USD$21 a share, is a 20 percent premium over Shopping.com’s Wednesday close of USD$17.44 and shares surged nearly 20 percent in after-hours trading. eBay lost over 1 percent.
The move by eBay would strengthen its business in providing online comparison shopping. Besides, users of Shopping.com can specify an item they are looking for and the Web site will direct the user to vendors providing that product in eBay..
Shopping.com also has more than 400,000 Epinion reviewers that Ebay said would complement its own community-feedback-based marketplace.
[Source]
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