More eBay trouble?
WSJ is reporting that eBay is pulling back in China:
Quote:
EBay Inc. plans to pull back from the fast-growing Chinese market by shutting down its main Web site in China and replacing it with a new site that would be largely run by a Beijing-based Internet company, say people familiar with the matter, in the latest sign of trouble afflicting the onetime Internet star.
They will have a 49% stake in the new site in a partnership with Tom Online (who will have 51%). Up till now, eBay had operated its own auction site in China.
This is obviously being viewed as a defeat for eBay as China was extremely important to them (something about a huge internet market)...
I will try to post a non-subscription required link when someone else picks this up.
- Y! MyWeb
Here is the original
Here is the original source
http://blog.donews.com/keso/archive/2006/12/18/1097909.aspx
Looks like a terrible blunder on ebay's part and an even worse exit strategy, just as alibaba has blown through a pile of cash without doing much for the yahoo brand in china my guess is a similar result from a tom.com and ebay hook up.
Although if a serious battle between alibaba's taobao.com and tom's/ebay's eachnet.com does break out, it will be one for the ages: The dragon lady, solina chou, versus the mercurial elf Jack Ma
I feel for the guy who wrote
I feel for the guy who wrote the article; it's clear that it's heartfelt, and painful. Besides, it's not every day you hear something like, "Meg Whitman is Ebay Mao Zedong".
Wish the comments were in English.