In 2019, eBay acquired a UK classifieds site called Motors.co.uk from Cox Automotive and merged it with its Gumtree classifieds business. Motors.co.uk continued to be the brand by which consumers knew the site, while dealers came to know it as Read more
eBay sold its classifieds business to Adevinta a few years ago after pressure from activist investors Elliott Management and Starboard Value while obtaining a stake in the company. On Tuesday, eBay announced its support for a deal that would net Read more
eBay sold its portfolio of online classifieds sites this year and gained a stake in Adevinta, the new owner. Today, Adevinta announced it sold two of the properties to investor firms. Gumtree UK and Motors.co.uk now belong to a consortium Read more
eBay is flush with cash this week. It sold an 80% share of its eBay Korean unit for $3 billion on Sunday, and today it announced it sold over 134 million shares in Adevinta ASA for €2.05 billion, which is Read more
eBay sold its Classifieds business to Adevinta for $2.5 billion in cash and a 44% equity stake, but eBay will reduce its ownership to 33% (or less) over the next 18 months to resolve competition concerns raised by Austrian regulatory Read more
eBay knows what it’s like to encounter friction as a seller – though not on its own marketplace. eBay was initially thwarted in a $9.2 billion deal to sell its Classifieds unit to a company called Adevinta when UK regulators Read more
eBay’s sale of its Classifieds Group to Adevinta hit a snag last month due to regulators in the UK. The two companies agreed this week to sell three of their UK units – Shpock, Gumtree (UK), and Motors.co.uk – in Read more
In February 2020, activist investor Starboard Value LP stepped up pressure on eBay to sell its classifieds unit. One year later, the sale of eBay Classifieds Group to Adevinta hit a snag due to regulators in the UK. eBay announced Read more
eBay took care of some housekeeping business on Thursday related to the sale of its Classifieds business to Adevinta that the two companies had announced in the third quarter. This press release from July 21 explains the $9.2 billion deal Read more
eBay sold its classifieds business unit to Adevinta for $2.5 billion of cash and 540 million shares of Adevinta, representing 44% ownership of the pro forma company and a ~33.3% voting stake. It valued the deal at approximately $9.2 billion. Read more
