PetSmart acquired Pet360 for $130 million in cash and up to $30 million more in future performance-based payments.
FairMarket signed a deal with eBay to allow its clients for whom it operates excess goods auctions to put goods up for auction on eBay.
Woburn, Mass.-based FairMarket Inc., which provides dynamic pricing auction capabilities for retailers and other e-commerce partners, such as JCPenny.com, Dell Computer, CompUSA and New Line Cinema, has signed a deal with eBay to distribute clients’ excess goods via eBay’s auction site. The arrangement with eBay will build upon FairMarket’s existing solution, which includes product uploads integrated directly with a merchant’s inventory system, order capture and management, back-end fulfillment integration and the ability to schedule listings. The first client to use the eBay option will be ValueVision International Inc., the national home shopping network, which is expected to go live early in the second quarter, says FairMarket President and CEO Eileen Rudden. “We work directly with the merchant’s inventory system. With our software, we can integrate right into their systems and move merchandise to an auction section on their web site or onto eBay,” says Rudden. “Most customers want to auction off excess goods on their own web sites [to control their brand], which we help them operate. But at some point they’re happy to just get rid of it and distribute the goods through other sites. That is the value of having the link to eBay.”