Business Services Industry
eBay Announces Acquisition of Jump Inc. and Its Person-to-Person Online Trading Site Up4sale
Business Wire, July 16, 1998
SAN JOSE, Calif.--(BUSINESS WIRE)--July 16, 1998--eBay, the world's personal trading community (www.ebay.com) today announced the acquisition of Jump, Inc., the developer and operator of Up4Sale (www.up4sale.com), an advertising-supported trading service in an auction format.
eBay acquired Jump in order to provide it with an additional environment in which to introduce complementary future services.
Launched in 1997, Up4Sale currently has 45,000 items listed in 27,000 separate auctions and 50,000 registered members. eBay currently operates Up4Sale as an independent service.
"The founders and employees of Up4Sale share eBay's vision of what it takes to be the world's personal trading community," said Meg Whitman, president and chief executive officer of eBay. "We believe that the long-term relationship between eBay and Jump will ultimately bring a great deal of value to our communities."
"We are truly excited about our association with eBay. We at Up4Sale have been longtime admirers of eBay and the wonderful community that exists there," said Rob Ratterman, co-founder of Up4Sale.
Users must register before they can bid or sell on Up4Sale. Currently, neither buyers nor sellers pay fees to bid on or list items for auction. Once an auction is successfully completed, the buyer and seller then independently complete the sale.
Headquartered in San Jose, Calif., eBay (www.ebay.com) is the world's personal trading community. eBay has created a new market: an efficient, one-to-one trading site in an auction format. Currently, eBay users list items in more than 800 categories, including collectibles, antiques, memorabilia, trading cards, toys, dolls, coins, stamps, books, magazines, and jewelry and gemstones. On average, over 70,000 items are added daily and well over 50 percent of all auctions listed on eBay have been successfully completed. eBay has more than 850,000 registered users.
CONTACT: eBay, Inc.
Kristin Seuell, 408/558-4082
or
Schwartz Communications, Inc.
Patty Allison, 415/512-0770
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