Archive for July 2003

eBay big in China

eBay today announced that it purchased the remaining two-thirds of EachNet, a major Chinese online consumer auction place, for $150 million in cash.eBay first purchased one-third of EachNet in March 2002 for $30 million. Based on the transaction value and total company valuation, EachNet, which was valued at $90 million in March 2002, is now valued at $225 million, growing two and a half times in a one-year period.