Power Sellers Unite

psunite · Joined: 27 Jan 2005 Posts: 6213 Location: Columbus OH

HONG Kong-listed Tom.com is going to announce its takeover of eBay's China division and its PayPal service, the 21st Century Business Herald reported today, citing a well-informed source.

Tom Group is the distributor of Skype, eBay's online telephone service in China.

According to the previous agreement between eBay and Eachnet, eBay will sell its shares to the company before withdrawing from the Chinese market.

In March 2003, eBay bought one third of Eachnet's stake by paying US$30 million, while Eachnet accounted for over 90 percent of China's C2C market. It spent another US$150 million to buy the remaining shares of Eachnet in 2003.

However, in April, Jack Ma, CEO of Alibaba.com—China's largest B2B Website, established Taobao.com and later lured away many of eBay China's customers by offering a free online trading platform, while Eachnet collected a commission of up to 8 yuan (US$1) for each item sold on its Website.
more.. link to news article

mojavelyn · Posted: Tue Sep 26, 2006 12:17 pm Post subject:

Is this PayPal US or PayPal China?????

boogiebobsrecords

hope it is just for China....Paypal is horrible the way it is and giving it to Skype to run will probably only make it worse. What else can eBay screw up ???? The list seems to be endless..........................

Patty00 · Joined: 13 Dec 2005 Posts: 1018

I really don't know what to make of this. I hope it means Meg will stop flushing our money down Chinese toilete.

wphamilton · Joined: 01 May 2005 Posts: 1940 Location: Georgia

The only thing that scares me about this is the possibility that Tom.com is bidding to become eBay's partner rather than a full buyout. There is some new regulation in China that requires a certain percentage of local ownership of a foreign-owned business.

If that is the case we can expect more of eBay's China Syndrome, not less.

terryp · Joined: 06 Sep 2006 Posts: 540

Is this PayPal US or PayPal China?????

There are 2 Paypal systems in China, the one that has most probably been sold will be the internal trading Chinese currency one (this can’t process payments from or to outside China)…while the other Paypal system is for international payments & must be linked to a US or UK bank account…That I feel will just be closed down.

I though something was going on as Paypal has just opened a Paypal division in Singapore?

This is the lucky escape ebay were begging for….most prob Meg will have some words of wisdom as to why ebay hit the wall and that it was a strategic call or some other waffle….blah, blah, blah :oops:

The beginning of the end…it is very very rare for a business this large that fails in such a large project to gain back credibility, especially when the World is watching (to fail in the Worlds fastest economy, is not easy…but ebay have the power to do it)
:D

lammergeiernet · Joined: 01 Feb 2005 Posts: 1007 Location: Canada

If this is true its stunning that eBay would concede in China and Korea would not be far behind.

A new partner for eBay in China would result in big changes

Pipphoe

I would think that partner would be more likely. After all, one of the comments that Meg made on "The Ebay Effect" was that the company that rules the Chinese market rules the world, or something to that effect. Paraphrasing here.

No, I can't imagine Meg conceding the Ebay China like that :twisted:

Daikon · Joined: 08 Aug 2006 Posts: 949

In Japan thay just pulled out alltogether a couple of years back. Links to eBay.co.jp pointed to bidders.co.jp for a while if memory server me correctly.

One can only hope that this means that eBay.com won't be flooded by Chinese sellers dumping fakes on site all the time.

mojavelyn · Posted: Tue Sep 26, 2006 11:03 pm Post subject:

"One can only hope that this means that eBay.com won't be flooded by Chinese sellers dumping fakes on site all the time."

We can hope, but I'm dusting off my ocean front land deeds.