Wherever you are, whatever language you speak, you can use eBay — thanks to the Internet trading powerhouse’s relentless expansion over the last year. EBay says it will increase its share in South Korean online marketplace, Internet Auction Co. Ltd., to 86% from 62% and will acquire all remaining IAC stocks.
Earlier this week, Fast Company writer Lucas Conley talked with the leaders of Craig’s List about eBay’s acquisition of a 25% share of the business. Last month, eBay purchased India’s Baazee.com, and in April it bought Germany’s mobile.de.
While eBay is in a buying spree this year, Amazon is not to be left behind and said it would foray into China. The Internet continues to make markets borderless, but do we really need only one or two e-commerce superpowers? EBay says it’ll let local markets do things their own way and won’t meddle with their management. And perhaps the company is only interested in money — getting a huge share of the pie, especially in developing markets. Do you think the ongoing expansion of eBay and Amazon is good for online shoppers?