Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
EBay's app-happy approach to m-commerce leads to $5 billion.
When it comes to moving merchandise via mobile commerce, eBay Inc. is the king. It projects it will hit $5 billion in gross merchandise sales worldwide in 2011, taking a few hundred million dollars as its cut of the sales. While eBay offers an m-commerce site, the action is in its apps, more than a dozen of them. It has created special apps for several product categories, such as automobiles and fashion. And it has innovated within them: for example, using augmented reality technology in its fashion app to let customers “try on” clothes on pictures of themselves. “Once someone decides they want to pull the trigger on a product, we make it as simple and quick as possible,” says Steve Yankovich, vice president of platform business solutions and mobile.