eBay is an e-commerce firm that has been online for a long time. It is also older than Amazon which is currently the best e-commerce company in the market. It is also known that Amazon is what caused EBay’s business to decline drastically. Currently, EBay’s business unit is not doing great at all and we know there are worries regarding the same.
Now, a new report from the Wall Street Journal reports some positives from eBay’s business. As per this report, the classified-ads business from eBay is up for grabs for a potential amount of $10 billion. And the good news is that many brands have shown interest in the acquisition of this business as well. Private-equity firms such as TPG and Blackstone have shown interest in the business already.
As far as the classified-ads unit from eBay is concerned, the business is same as what you get with Craigslist in the US. The interesting part is that eBay’s unit operates internationally and it allows users to post goods and services in local communities who might not necessarily want to buy from eBay. There is also a possibility that this business from eBay could be spun off or it could also become a joint venture.
Reportedly, OLX Group which has a strong presence in India with its unit named OLX India has shown interest in buying eBay’s classified-ads unit. OLX Group is run by an internet conglomerate Naspers and it already operates in 30 countries and more. Axel Springer, owner of Business Insider and Rolling Stone, is also reported to be interested in this business as per the report from WSJ.