Fwoked: Ebay Shuts Down Chinese Site

Monday, December 18, 2006 19:40
Posted in category Going to Market, Invest in China
Comments Off on Fwoked: Ebay Shuts Down Chinese Site

While Ebay holds a grip on the U.S. market, it has apparently lost its grip.. or any hold at all.. in the China market.

It has been known for a while that the Ebay strategy in China has been a difficult one and that Alibaba’s Taobao site has crushed Ebay’s initial China dreams.

Now, as reported in Marketwatch, Businessweek, and others, Ebay has announced that they are closing the doors on their China site and has accepted that their initial strategy was not the one for them. The new site will be in partnership with Tom.com.

In addtion, rumors are flying that in the weeks to come there will be announcements about future plans, and some think one of these announcements will be one related to another large acquisition

During all this are other rumors that include inappropriate business transactions and further restructuring of Ebay‘s China structure into 3 separate units

In any event, the initial strategy has been a failure, got fwoked, and through some retrenching, restructuring, and executive placements Ebay hopes to turn it all around. The new Tom.com partnership hopefully with find a hold on the Chinese consumers… Otherwise, Ebay will be the subject of another Fwoked post

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