eBay Acquires Netherlands Classifieds Site
eBay has acquired Marktplaats.nl, the leading classifieds website in the Netherlands.
eBay purchased Marktplaats.nl from Het Goed Beheer BV, a company that owns second-hand retail shops in the Netherlands. The acquisition allows Marktplaats.nl to grow its business through the investment and online trading expertise of eBay. eBay will be able to expand its e-commerce position in the Netherlands while adding to its growing knowledge of classifieds-style trading. eBay plans to continue to operate Marktplaats.nl as a separate business.
“Marktplaats.nl has enjoyed tremendous success in the Netherlands,” said Bill Cobb, senior vice president of eBay International. “Learning from each other, we can strengthen both platforms and provide Dutch consumers with even better trading opportunities.”
“We have built Marktplaats.nl into the leading classifieds website in the Netherlands,” said Frank Crebas, managing director of Marktplaats.nl. “With its strong global presence and technical expertise, eBay can help expand our business into the future.”
Founded in 1999 and based in Emmeloord, Marktplaats.nl is the most popular classifieds website in the Netherlands. With more than one million listings at any given time, Marktplaats.nl offers a venue where buyers and sellers can meet to trade a wide array of items, from clothing and collectibles to cars and household items.
“Marktplaats.nl is a great match with eBay Netherlands,” said Josh Silverman, country manager of eBay Netherlands. “Together, we can help consumers get the most out of e-commerce no matter which format they choose.”
The Netherlands is a vibrant and growing Internet market. Business-to-consumer e-commerce in the Netherlands is estimated to reach $5 billion in 2004, and that number is expected to grow to more than $15 billion in 2007, according to IDC’s Internet Commerce Market Model, January 2004.
eBay has acquired all outstanding shares of Marktplaats.nl and certain of its subsidiaries for approximately EUR 225 million in cash, or approximately US$290 million based on the November 9, 2004 exchange rate of US$1.29 per Euro, plus acquisition costs. eBay does not expect the acquisition to have a material impact on 2004 or 2005 net revenue and earnings per share, and does not expect it to affect eBay’s financial guidance as issued in connection with its third quarter earnings release on October 20, 2004.
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