We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
80,259 News Articles

Report: eBay China to close

Auction site plans partnership with Tom.com

After failing to gain significant market share in China's consumer auction market, eBay will join Tom.com in creating a Tom.com-operated site in its place, according to The Wall Street Journal.

Rumours have been circulating for months that eBay was preparing to exit the Chinese market, but were readily denied by the company. eBay bought Chinese auction site Eachnet in 2003 for $150m. Eachnet was founded in Shanghai in the late 1990s by local entrepreneur Shao Yibo, and its Chinese name, 'Yi Qu', still represents the site in China.

Alibaba.com's TaoBao site leads the consumer auction market, with the company claiming 30 million registered users and as much as 70 percent market share.


IDG UK Sites

5 reasons Facebook Messenger is terrible, and 5 reasons it's great

IDG UK Sites

Samsung: King of the Androids (or MWC, at least)

IDG UK Sites

Inside Microsoft's universal platform for designing apps that work on PCs, tablets, phones, Xbox...

IDG UK Sites

How to watch Apple's 9 March 'Spring Forward' Apple Watch event live stream, and what to expect: Ap?......