eBay has been considering selling its classified-ads business for some time, but it appears the company is finally taking steps in that direction.
The company’s classifieds business is estimated to be worth some $10 billion and mainly operates internationally, similar to Craigslist in the U.S. Selling the classifieds division would leave eBay with its core marketplace business.
According to The Wall Street Journal, “Private-equity firms including TPG and Blackstone Group Inc. and strategic bidders including Naspers Ltd. and German publishing company Axel Springer SE have recently expressed interest in the business.” eBay has also been approaching other companies to gauge interest.
Both Naspers and Axel Springer have existing online classifieds businesses, and the addition of eBay’s business would no doubt significantly increase their reach. The WSJ reports that indications of interest are due in March.
We will continue to monitor developments and report updates.