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EcommerceBytes-NewsFlash, Number 1531 - May 04, 2007 - ISSN 1539-5065    3 of 6

eBay Acquires Stake in Turkish Marketplace

By Ina Steiner
May 04, 2007

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eBay has acquired a minority stake in GittiGidiyor.com, a leading online marketplace in Turkey. The site has over 400,000 listings and more than 60 employees and was founded in 2000 by Serkan Borancili, Burak Divanlioglu and Tolga Kabatas. The company is headquartered in Istanbul.

Turkey has over 17 million Internet users, according to eBay, and is the 37th market where eBay has a local presence.

According to eBay's announcement, "the strategic relationship with eBay will allow Gittigidiyor.com to further expand its online trading platform and offer a broader range of ecommerce services to Turkish buyers and sellers."

eBay International Marketplaces President Lorrie Norrington said, "GittiGidiyor.com has established a strong presence and brand name in Turkey. Its business model and community-centric approach make it an excellent complement to our marketplaces business."

Terms of the agreement were not disclosed. eBay said it does not expect this investment to have a material impact on its financial guidance as issued in conjunction with its first quarter earnings release on April 18, 2007.

About the author:

Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). Follow her on Twitter at @ecommercebytes and send news tips to ina@ecommercebytes.com.

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