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eBay Adds and Subtracts
Internet auctioneer eBay completed this week their purchase of online payment provider PayPal for stock worth about $1.5 billion. The acquisition is consistent with eBayís commitment to focus on its online auctioning technology and community.
The company has slowly been ridding itself of its offline businesses, given their relatively weaker performance. It earlier divested high-end Butterfields Auctioneers, and now The Deal reports that eBay is shopping for buyers of its offline classic car property, Kruse Automotive International.
Founded in 1995, eBay currently claims nearly 50 million registered users, and is the most popular shopping site on the Internet as measured by total user minutes according to Media Metrix.
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