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eBay Completes Acquisition of the Indian Baazee.com
eBay Completes Acquisition of India's Baazee.com
Company Online Stock Trading SAN JOSE, Calif. & MUMBAI, India--(BUSINESS WIRE)--Aug. 3,
2004--eBay, The World's Online Marketplace (Nasdaq:EBAY)
(www.ebay.com), today completed its previously announced
acquisition of Baazee.com and its subsidiary Baazee.com India Pvt.
Ltd., the largest online marketplace in India.
In accordance with the terms of the transaction as announced on
June 22, 2004, eBay is acquiring all outstanding shares of
Baazee.com, Inc. for approximately US$50 million in cash, plus
acquisition costs.
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Online Trading Stock And As previously stated, eBay does not expect the acquisition to have a material impact on 2004 net revenue and earnings per share, and does not expect it to affect eBay's financial guidance as issued in connection with its second quarter earnings release on July 21, 2004.
- ADRs or American Depository Receipts act as a proxy for foreign stock shares, but are issued in dollar value.
- Closed end funds are like a cross between mutual funds and ETFs which trade like stocks but are a collection of stocks from one country. For example, IFN is a closed end fund for India and CAF is a closed end fund for China. Both invest invest 100% in their countries but are managed by an American investment company and trade on the NYSE.
. They trade like stocks, in diversity.
Stock Investing Course About Baazee.com
- Should the acquisition of shares be carried out by means of a public buyback offer to the Company's shareholders, the acquisition price offered or the limit values of the acquisition price range offered per share (without additional acquisition expenses) may not be more or less than 10% of the average final auction price in Xetra trading (or representative Xetra system with functionally comparable replacement system) between the fourth and tenth day of trading before the publication of the offer on the Frankfurt (am Main) Stock Exchange.
Should the acquisition of shares be carried out over the stock market, the nominal value of each share (without additional acquisition expenses) may not exceed or fall below 10% of the opening share price in Xetra trading (or representative Xetra system with functionally comparable replacement system) on the day of trading on the Frankfurt (am Main) Stock Exchange.
Stock System Trading Baazee.com India Pvt. Ltd. is a subsidiary of Delaware-based Baazee.com, Inc., and started its operations in India in January 2000. Headquartered in Mumbai, Baazee is India's biggest marketplace where anyone can sell or buy almost anything. Baazee has a strong and growing community of 1 million confirmed registered users who trade in a wide range of thousands of item categories including Electronics, Cameras, Phones, Computers, Movies, Mobiles, Fashion, Music, Home, Toys and Travel. Through a world class technology infrastructure Baazee enables & simplifies e-commerce for India's burgeoning online community.
Point fell 31 cents, or 11.27 percent, to close at $2.44 on the Nasdaq Stock Market. Over the past 52 weeks, the stock has traded from $2.38 to $8. Point recently agreed to acquire Tops' assets, including intellectual property and the company's customer base. The company expects to complete the acquisition by the end of May. Meanwhile, based California Probation Department for use in its Orange County Juvenile Hall.
Stock Investing Game About eBay
There are other ways to invest in stocks. Dividend Reinvestment Plans (DRIPS) allow you to buy a single share of stock. As that share earns dividends, those dividends are used to buy additional shares. There are index mutual funds, in which you own a little bit of every stock traded on a particular index. There are also traditional mutual funds, made up of an array of stocks across many industries.
Market Stock Trading EBay is The World's Online Marketplace(R). Founded in 1995, eBay created a powerful platform for the sale of goods and services by a passionate community of individuals and businesses. On any given day, there are millions of items across thousands of categories for sale on eBay. eBay enables trade on a local, national and international basis with customized sites in markets around the world. Through an array of services, such as its payment solution provider PayPal, eBay is enabling global e-commerce for an ever growing online community.
Online Stock Trading Canada Forward-Looking Statements
Stock Investing Basics This announcement contains forward-looking statements that involve risks and uncertainties. Actual results could differ materially from those discussed. Factors that could cause or contribute to such differences include, but are not limited to, the reaction of the users and suppliers of Baazee.com to the transaction, the future growth of Baazee.com's services, the reaction of competitors and regulatory authorities to the transaction, foreign currency exchange rate fluctuations, and political, economic, and security developments in, or affecting, India. More information about potential factors which could affect eBay's business and financial results is included in the company's Annual Report on Form 10-K for the year ended December 31, 2003, and the company's Quarterly Reports on Form 10-Q. All forward looking statements are based on information available to eBay on the date hereof, and the company assumes no obligation to update such statements.
Day Online Stock Trading Contacts
Online Stock Trading Game
eBay
Hani Durzy, 408-376-7458
hdurzy@ebay.com
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