EBay Sells eBay Classifieds for $9.2 Billion

EBay’s classified ads business, one of the oldest businesses on the internet, just sold to Adevinta (Norway) for $9.2 billion in order for them to create the largest online classifieds company.

Today classifieds online aren’t a huge business. Only about 3% of the $125 billion online advertising market (2019 according to Interactive Advertising Bureau).

However, in their day Craigslist and what became eBay Classifieds were some of the largest on the web.

EBay Classifieds Group was started 25 years ago as the AuctionWeb. EBay’s classifieds business was once known as DBA which was a popular, Danish all-classifieds newspaper that started publishing in the 1970s far before the idea that everyone would have a network connected computer in their home was commonplace. It decided to give the web a go in 1995.

EBay bought DBA along with lots of other similar businesses in 2008 to form the eBay Classifieds Group. However, classifieds weren’t ever at the center of eBay’s profit ambitions and in the first quarter of 2020 accounted for just 10% of the company’s total revenue.

Now, among a growing group of other non-central businesses like Skype, PayPal and StubHub, eBay decided to dump another branch of its business as it struggles to keep up with its primary and much larger rival Amazon.

 

Green Monday

Okay. So today is Green Monday. What is it, you ask? The Victor crew wanted to find out too so this is what we found out. It is another online retail shopping day similar to Cyber Monday. It was first coined by eBay to describe their best sales day in December, usually the second Monday of December. Specifically, it’s the last Monday with at least 10 days before Christmas. In 2009, there was $854 million spent online. In 2014, it reached a record $1.6 billion. It is still lower than 2014’s Cyber Monday which topped out at $2.68 billion.

https://en.wikipedia.org/wiki/Green_Monday

Since we are on the Wikipedia site, we noticed for a while they have been pushing for donations. They are willing to take even just $3. They say if everyone reading it “right now” would donate $3, they would make their goal in within an hour.

Tech news this week

Ebay
It is suggested you change your password especially if you use the same username/password combination for PayPal or other sites. They have had a breach this week. All passwords were encrypted so they are garbled … for now. They are working with investigators into the attack.

Facebook
Facebook added a new feature that will identify a song, TV show or movie that’s playing while you write your status update. It will listen to your surroundings (similar to Shazam) and give you the option to add it as you update your status. It will use your phone’s microphone

Nest
Nest was bought earlier this year by Google. They are now recalling 440,000 fire alarms due to a defect that could cause users to turn it off unintentionally.

Jody Victor