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Auction Giants eBay purchase shopping.com
By Steve Dawson © Freelance Network

eBay have recently announced that they have purchased the online shopping comparison website shopping.com for around $620 million. (approx £300 million)

eBay is now moving further forward in the online shopping market and is now a larger force in the Affiliate Marketing area as well. Shopping.com is simply an online shopping portal which sells goods and products for other companies n a commission basis.

The acquisition of shopping.com gives eBay a large market share of online buying and it seems that eBay will also implement its ‘feedback’ buyer and selling rating system in the near future. San Jose, California-based eBay said it agreed to buy Shopping.com for $21 per Shopping.com share in cash. Shopping.com's cash, cash equivalents and marketable securities as of May 31, 2005, were about $140 million.

eBay also report that the 200 employees of Shopping.com will be safe and no job losses are expected.

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