In its second-largest acquisition, Amazon buys the company for $970 million.
eBay’s business-to-business gross merchandise sales continue to increase at a rapid pace, after doubling to $2 billion last year, eBay says. It expects to spur b2b sales further with an inventory financing plan.
EBay Inc.’s business-to-business gross merchandise sales on eBay.com continue to increase at a rapid pace, after doubling to $2 billion last year from $1 billion in 2002, eBay says. "This business is still just getting started," says Jordan Glazier, general manager of eBay Business.
Although Glazer declines to give the current growth rate for b2b sales, he says eBay expects to spur b2b sales even further with an inventory financing plan to help eBay’s sellers deal in larger quantities of products. "We’re looking at rolling out inventory financing for sellers within a year," Glazier tells Internet Retailer.
EBay divides its b2b sales into three categories: office technology, industrial equipment and merchandise offered for re-sale through its Wholesale Lots section. Although it doesn’t usually break out sales for each category, eBay noted earlier this year that its industrial category was on pace to do $1.1 billion in gross merchandise sales this year. It defines gross merchandise sales as the final value of sales listed and completed by eBay sellers.