After selling its Stubhub ticket marketplace and online classifieds business, eBay appears to be ready to jettison yet another division: eBay Korea.
There had been reports since the spring that eBay was looking for a buyer for its Korean marketplace, and on Tuesday, it issued a statement acknowledging it was considering options.
eBay’s Korean marketplace is more like Amazon than eBay.com in one way, at least: it sells items itself (first-party sales) in addition to third-party sales, as EcommerceBytes reported 3 years ago.
The divestitures, the result of fierce pressure from activist investors in 2019, make eBay a much smaller company. (We don’t recall an accounting of what eBay has done with the proceeds, presumably it continues to buy back shares to return it to investors, but has it also reinvested any into the Marketplace business?)
Here’s what eBay had to say in a statement on Tuesday:
“eBay has initiated a process to explore, review and evaluate a range of strategic alternatives for its Korea business. The company is considering options that would maximize value for its shareholders and create future growth opportunities for the business.
“eBay does not intend on making further public announcements regarding the strategic review unless and until the Board has approved a course of action requiring disclosure.”