eBay Fires 10% of Workforce, Makes $1.3B Worth of Acquisitions
ADOTAS – It’s been a busy morning at eBay HQ. It laid off 10% of its workforce (about 1,000 full-timers in addition to hundreds of temps) and snapped up Bill Me Later for $945 million and Danish shops Den Bla Avis and BilBasen for a total of $390 million.
Bill Me Later is an online payment company that evaluates credit risks – a wise buy for eBay as the credit crisis shows no signs of slowing. Bill Me Later also sports a roster of high-profile clients (Apple, WalMart). As eBay’s auction biz tapers off, this purchase will probably make eBay the top dog in the online payment universe.
The two Danish buys are part of eBay’s move to expand its online classified business globally and rival nemesis Craigslist’s dominance in that field.
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