EcommerceBytes-NewsFlash, Number 2519 - April 12, 2011 
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eBay Acquires Majority Share of GittiGidiyor Turkish Marketplace
By Ina Steiner
eBay has agreed to acquire additional shares in GittiGidiyor, a leading online marketplace in Turkey, giving it approximately 93% of the outstanding shares of the company. The deal follows eBay's acquisition of a minority stake in the company in 2007.
Launched on February 5, 2001, GittiGidiyor has more than 6.4 million registered users and over 150 employees. It offers fixed-price listings and requires the use of an escrow service for payments between buyer and seller. Its largest categories are Fashion and Consumer Electronics.
The transaction is subject to customary closing conditions, including regulatory approval, and is expected to close in the second quarter of 2011. Terms of the deal were not disclosed.
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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