JOSE, CA - eBay , the world’s online
marketplace, announced two agreements that are expected
to further fuel the strong growth of the eBay Motors business.
The company announced its intention to acquire certain assets
of Texas-based CARad.com, a leader in online auction management
services for car dealers. The company also announced that
it has forged a strategic relationship with Kelley Blue
Book’s kbb.com, the No. 1 automotive information site
on the Web, to become its exclusive auction-style partner.
together, eBay expects these relationships to enable dealers
to more easily manage a higher volume of auctions, while
also helping more buyers find the cars they want on eBay
Motors. Consistently ranked the No. 1 automotive site on
the Web by Nielsen//NetRatings, eBay Motors sold more than
three billion dollars worth of vehicles and parts on its
site in 2002.
agreement to acquire the CARad.com business is an important
step towards our goal of making it even easier for car dealers
to sell more cars on our site,” said Stephanie
Tilenius, vice president and general manager of eBay Motors.
“Additionally, our relationship with kbb.com should
ensure that more people are aware of our site at the critical
point when they are normally considering the purchase or
sale of their used vehicle.”
Acquisition Expected to Enhance eBay’s Service to
eBay’s agreement to acquire certain assets of CARad.com
is consistent with eBay’s overall strategy to work
with leading companies to innovate and create the best possible
services for its existing and potential buyers and sellers.
CARad.com’s technology gives car dealers a simplified
way to list and manage more vehicle auctions on eBay Motors.
In addition to making the listing and auction management
process easier for existing sellers, this proposed acquisition
is expected to encourage more car dealers to sell their
inventory on eBay Motors.
acquisition, which is subject to certain closing conditions,
is expected to close during the first quarter of 2003. Financial
terms of the proposed acquisition were not disclosed. eBay
also confirmed that based on its current business outlook,
the proposed acquisition will not impact its most recent
financial guidance for the first quarter and the full year
2003 which was provided by eBay on January 16, 2003.
with Trusted Source kbb.com
Through the relationship with kbb.com, automotive shoppers
who use kbb.com for research and pricing information will
have direct access to the relevant vehicle listings on eBay
Motors. Consumers who want to sell their used vehicles and
are looking for content and pricing information on kbb.com
will also be able to easily link to eBay Motors to list
their used vehicle for sale. Additionally, this agreement
will allow thousands of franchise dealers nationwide who
use KarPower, Kelley Blue Book’s dealer inventory
management software, to more easily list inventory on eBay
the No. 1 automotive information site on the Web, it’s
important to work with other top brands like eBay to help
our site visitors make more educated decisions,”
said Stephen Henson, kbb.com’s vice president of marketing
and business development. “The links to eBay’s
auction-style listings will give kbb.com visitors more flexibility
in how they buy and sell vehicles.”