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Tue June 3 2008 08:08:21

Jumbuck Buys eBay Australia Rival OZtion

By: Ina Steiner

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Jumbuck Entertainment, an Australian provider of mobile services, has acquired OZtion, the online-auction site in Australia that has been the beneficiary of recent member unrest at eBay Australia. (See today's Newsflash article.) An Australian governmental agency is still reviewing whether to allow eBay's move to a PayPal-only policy in mid June.

Jumbuck cites an M:metrics report that says US mobile users spent more time browsing auction sites on their mobile than any other site. It already has an online-dating search engine for singles (Fast Flirting), so why not a mobile-enabled auction site?

Is this a good move for auction sellers in Australia, providing OZtion with funding, stability and more exposure? Or is OZtion selling out? What do you think?




Comments (23) | Permalink

Readers Comments

Jumbuck Buys eBay Australia Rival OZtion   Jumbuck Buys eBay Australia Rival OZtion

by: Gary Lanier

Tue Jun 3 08:36:00 2008

Sad to see Oztion sell out like this I now have to rely on
www.bidmate.com.au BidMate Australian Online Auctions.

In these tough times for sellers it's best to have eggs in as many baskets as possible.

Jumbuck Buys eBay Australia Rival OZtion   Jumbuck Buys eBay Australia Rival OZtion

by: Venecia Wilson

Tue Jun 3 08:36:18 2008

I'm in two minds about this.  On one hand I think it's great that Oztion will be getting an advertising & resources boost, but at the same time, this now leaves them open to a sharemarket takeover.  I would imagine that it won't openly be eBay that will buy the Jumbuck shares, but some little known shelf company...the same way they've done it for other sites they've colonised.

Jumbuck Buys eBay Australia Rival OZtion   Jumbuck Buys eBay Australia Rival OZtion

by: steve

Tue Jun 3 08:37:23 2008

Love this kind of news.  I am dreaming of the day when/if Google makes such an acquistion so that I can sell for a site that respects and stands behind its sellers.  For the last year I have felt like a 2nd class--no, make that 3rd class citizen on eBay.  Does eBay's new CEO have complete and utter disdain for his customers (the sellers)?  A CEO who simply copies Amazon's model does not really have a vision for the company.

Jumbuck Buys eBay Australia Rival OZtion   Jumbuck Buys eBay Australia Rival OZtion

by: tj

Tue Jun 3 08:38:19 2008

if they allow NON-OZ sellers on to the site now, this could well blow eBay out of OZ

Jumbuck Buys eBay Australia Rival OZtion   Jumbuck Buys eBay Australia Rival OZtion

by: Markie

Tue Jun 3 08:40:43 2008

Something like this needed to happen to provide Oztion with much needed funding to go forward.
I feel Jumbuck got a great deal, the two directors of Oztion received some fast cash and share options and got to stay at the helm for at least 2 years.
Oztion members get a company that has the ability to put the name Oztion OUT THERE.
Its seems a win win all round.
Oztion now has the platform to do some serious damage to that disgraceful ebay corporation and its greedy PayPal business neither of which has the ability to provide any sort of basic customer service other than robotic cut & past replies... die a slow death Ebay and be done with you!

Jumbuck Buys eBay Australia Rival OZtion   Jumbuck Buys eBay Australia Rival OZtion

by: jojo

Tue Jun 3 09:57:11 2008

Yeah, it is about time someone through a bucket of water on eBay.

Jumbuck Buys eBay Australia Rival OZtion   Jumbuck Buys eBay Australia Rival OZtion

by: jojo

Tue Jun 3 09:58:09 2008

That's threw, not through.

Jumbuck Buys eBay Australia Rival OZtion   Jumbuck Buys eBay Australia Rival OZtion

by: lars

Tue Jun 3 10:22:42 2008

Boycott Ebay Live!

Jumbuck Buys eBay Australia Rival OZtion   Jumbuck Buys eBay Australia Rival OZtion

by: bonni

Tue Jun 3 10:33:14 2008

I'm not sure what to think of this. According to what I've read, Oztion was operating at a "break even" level for years, and really didn't have the means to expand the way they needed to. I also suspect strongly that the directors (Druce and Yip) found that running an online auction site was a lot more complicated and difficult than they originally anticipated, and they want to go on and do new things in a couple of years when their contracted positions with Oztion are done. I can't say I blame them. I wouldn't own an Australian auction site for all the pie floaters in Adelaide!

What this will mean for sellers on Oztion... too early to even begin to guess. Could be good, bad, or indifferent. Only time will tell.

Oh, and Oztion did allow non-Australian sellers, originally, and then they stopped allowing it, and then allowed it again. The effect was to bring some new sellers, some of whom listed quite literally tens of thousands of items, but the move brought practically NO new buyers/customers.

In other words, it opened up the small pond that is the Australian online buying public and let in the big sharks from other seas. That's why Oztion went back to disallowing non-Australian (or New Zealand) sellers. They tried it, and it didn't work.

Australia only has a total population of 21 million people, compared to the United States with 300 million and China with 1.35 billion or so...

Jumbuck Buys eBay Australia Rival OZtion   Jumbuck Buys eBay Australia Rival OZtion

by: just a seller

Tue Jun 3 16:01:08 2008

The good news are: A competitor to ebay is attracting an investor. That by itself was a science fiction kind of news until not too long ago.
Let's just hope buyers will follow the vast migration of sellers to other sites so ebay will feel the taste of the dish they were feeding us for years.

Jumbuck Buys eBay Australia Rival OZtion   Jumbuck Buys eBay Australia Rival OZtion

by: Henrietta

Tue Jun 3 18:45:36 2008

OZtion projections for 2008 were double revenue 2007.

I don't think eBay can afford Jumbuck, Jumbuck is no peanut. As an Australian owned company, shares traded on the Australian market I believe it will make very little difference to Aus sellers who are sick and tired of being abused by the likes of eBay who bring a whole new interpretation to the Ugly American theme.

The acquisition should make a huge difference to those Aus sellers who welcome overseas bids, enormous added value because the network exposure is massive.

Remember that BUYERS can register on OZtion even if they are not in Australia.

Jumbuck Buys eBay Australia Rival OZtion   Jumbuck Buys eBay Australia Rival OZtion

by: Matt

Tue Jun 3 20:51:17 2008

Hey,

I've never heard of them. Have to check it out

http://www.xoobie.com.au

Jumbuck Buys eBay Australia Rival OZtion   Jumbuck Buys eBay Australia Rival OZtion

by: George

Tue Jun 3 23:07:49 2008

All I can say is hide your mobile phone numbers, the company have bought a cheap email data list, it will be another case of corporate greed coming to oztion you wait and see.

bang4bucks is the only Proper Australian owned site now that isnt going to be taken over by corporate share holder companies.
If you think oztion will be any different to ebay now you are wrong, they have share holders to answer to.

Im so sick of lining the pockets of these giants.

Im sticking to bang4bucks only now and once the changes kick in on oztion banger will be the only normal site to work with.

Jumbuck Buys eBay Australia Rival OZtion   Jumbuck Buys eBay Australia Rival OZtion

by: kiimba1812

Wed Jun 4 01:14:43 2008

This is great news, because it will put around a lot of awareness and advertising we need to have. The majority of members I have spoken to and including me have all been trying very hard to make this site successful I have left ebay and now concentrate on Oztion and the sales are coming in quite fast now, I dont think ebay really knows what has hit them yet!

Jumbuck Buys eBay Australia Rival OZtion   Jumbuck Buys eBay Australia Rival OZtion

by: Roy

Wed Jun 4 06:36:17 2008

It is a gutsy effort for the biggest online auction site in Australia to force its members to use one payment method only.  This has given opportunity for smaller sites like www.auctionzone.com.au and also www.oztion.com.au the opportunity to grow.  In AZ's case, it only launched last week. The owners of oztion have sold with perfect timing. Good on 'em.

Jumbuck Buys eBay Australia Rival OZtion   Jumbuck Buys eBay Australia Rival OZtion

by: Roy

Wed Jun 4 06:39:14 2008

bang4bucks is not the only site that is new. Try Auction Zone (www.auctionzone.com.au) it actually is the first site to cross true MLM power with an Online Auction Site so all members can share in the profits of the site.  It is also a solid product with no commercial ownership.

Roy
www.auctionzone.com.au

Jumbuck Buys eBay Australia Rival OZtion   Jumbuck Buys eBay Australia Rival OZtion

by: KD

Thu Jun 5 00:12:15 2008

Looks like Jumbuck might have the same idea Donohoe had, but Jumbuck is beating Donohoe to it! I bet Donohoe is upset. I mean mobile services and auctions, sounds like Donohoe's plans for Skype and ebay? Plus the dating service somewhat equals StumbleUpon, in that they are both social sites. Hope Donohoes ideas fall behind and he's too late to be seen as having novel ideas. lol

If Jumbuck lets sellers keep choices and autonomy in selling, I believe it sounds pretty good for Aussie sellers. Just keep your ears and eyes open because money sways people. Don't let anyone take advantage of you in any way. If you sense it, move on again. Keep your soul.

Jumbuck Buys eBay Australia Rival OZtion   Jumbuck Buys eBay Australia Rival OZtion

by: Roy

Thu Jun 5 06:04:09 2008

OZtion owners must be well pleased. Congrats to them.  I believe they have sold out too early though.. the peek will be a couple of weeks after the 17th of June....

I think the trading post has got good timing though with their launch.

Rgs
Roy
www.auctionzone.com.au

Jumbuck Buys eBay Australia Rival OZtion   Jumbuck Buys eBay Australia Rival OZtion

by: Penny

Thu Jun 5 22:35:41 2008

I think they sold out to early, they either cant support the growth of the site or cant finance it, why would you sell a site if it has had the growth they say they have.
The Trading post is Sensis and no way known would I go near another corporate auction site have you seen how long it takes to list one product and the fees on that site are going to be no different to ebay once september comes.I listed 50 products on bang4bucks sold nothing the first week and then after they were on TV sold 9 items the next week so I think the potential is there , the radio advertising is also bringing in plenty of buyers, I just looked at the home page and there are plenty of items with bidding which is great seeing it is only 5 weeks old.
I would sooner support a site like bang4bucks over another public company that has to make money for its share holders meaning there will be changes on Oztion over the next few months.

No one will ever outdo ebay but there is no reason why others cant compete.

The bang one is from expowersellers which I like as who knows better what makes a site work and what sellers need than actual sellers.


Jumbuck Buys eBay Australia Rival OZtion   Jumbuck Buys eBay Australia Rival OZtion

by: Tracey

Sun Jun 22 21:04:18 2008

I think oztion sold out too soon, they are still to reach their peak and could have got alot more if they'd stuck it out a couple more years.
I'll probably still use them and continue also to use my other favourite site, Auctionbidz online auctions.
www.auctionbidz.com.au

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