Ebay Inc has agreed to sell its classified ads business to Norwegian group Adevinta in a deal worth US$9.2 billion, creating the world's largest ...
OSLO: Ebay Inc has agreed to sell its classified ads business to Norwegian group Adevinta in a deal worth US$9.2 billion, creating the world's largest classifieds group, the companies said on Tuesday .
The company will have market presence in 20 countries, covering one billion people with three billion visits every month. The eBay Classifieds Group includes the Gumtree and Kijiji brands, and offers online ads to more than 1,000 cities around the world. The business posted an operating income of US$83 million on revenue of US$248 million in the first quarter of 2020.
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