eBay buys Bill Me Later, Lays off 1,000
EBay on Monday revamped its corporate portfolio laying off 1,000 workers, or 10 percent of its workforce, and buying online payment company Bill Me Later as well as a Denmark classifieds company.
The company is acquiring the U.S.-based online payments business Bill Me Later for approximately $820 million in cash and approximately $125 million in outstanding options. In classifieds, the company has acquired Denmark’s leading online classifieds site dba.dk and vehicles site bilbasen.dk for approximately $390 million in cash.
“We are making aggressive moves to strengthen our leadership positions in e-commerce and payments to competitively position our company for long-term growth,” said John Donahoe, eBay Inc.’s president and chief executive officer. “Bill Me Later is a perfect complement to our portfolio, a company that belongs with PayPal. Together, PayPal and Bill Me Later will make online payments safer, easier and more convenient than ever.”
2 votes
