eBay offered GSI Commerce shareholders $29.25 per share for the e-commerce service provider - the largest purchase the auction site has made since buying Skype in 2005. GSI's CEO is also walking away with 70% of the Rue La La, Shop Runner, and 100% of the sports division.
The acquisition will allow eBay to work with large retailers and become an online shopping portal, capable of delivering products anytime. This is eBay's "missing component" in giving #1 retailer, Amazon, a real run for its money - up to now, the products available on eBay depended on what individuals were selling.
© C Harris Lynn, 2011
A worm's-eye view of the Web.
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