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eBay Mulls Sale Of Classifieds

E-commerce giant eBay is in discussions with several suitors over the possible sale of its classified-ads business.

The company said it expects to provide an update regarding the process by the middle of 2020.

The Wall Street Journal reported eBay has approached potential buyers to sell the classified-ads business, which could be worth roughly US$10 billion.

Activist shareholder Starboard had sent a letter to eBay’s board, saying the company has not made enough progress in its plan to separate its classifieds business.

In March 2019, the company announced a strategic review of the classifieds-ads business and its StubHub ticketing unit

Later, it agreed to sell StubHub to Viagogo for $4.05 billion.

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