eBay to Acquire Shopping.com
San Jose, Calif. and Brisbane, Calif, June 1, 2005 eBay, The Worlds
Online Marketplace (Nasdaq: EBAY; www.ebay.com), today announced
that it has agreed to acquire Shopping.com (Nasdaq: SHOP;
www.shopping.com), a leader in online comparison shopping and
consumer reviews.
The combination of Shopping.com and eBay will create a premier
online
shopping experience for individuals and
businesses of all sizes. The
acquisition will give eBays many sellers a new sales channel and
access to a new set of buyers. Shopping.com will especially
appeal to eBay sellers who are having success with in-season
products. On Shopping.com, the shopping experience will be
enhanced by the addition of eBay listings to the product
selection already available, and merchants will enjoy additional
traffic and leads from eBay. Finally, the consumer-generated
reviews on Epinions complement eBays own community
feedback-driven marketplace.
Credit Pacific Service Union The acquisition of Shopping.com will allow us to provide even
more opportunities for our sellers, said Bill Cobb, president, eBay
North
America. Shopping.coms
comparison technology simplifies the online shopping experience
and the Epinions community of reviewers is a great match with
our own. Together with the outstanding management team at
Shopping.com, I believe we can accomplish some amazing things on
behalf of our buyers and sellers."
In such cases, TEL3 is not responsible for any charges that may accrue onto your cell phone bill.A valid credit card is required to acquire service.
Credit First Service Union EBay will provide our shoppers greater convenience and
comprehensiveness and will help our merchants increase sales, said
Lorrie Norrington, president and CEO of Shopping.com. This
partnership will allow Shopping.com to accelerate our vision to
dramatically improve the way people shop and sell online."
Roland lists his valid credit card on eBay. This is a violation of eBay policy because the credit card is not at least 10 years old. Elaine lists a credit card for sale on eBay but the credit card company retains ownership of the credit card even on issuance. Therefore, this is a violation of eBay policy because the credit card issuers policy does not allow the resale of its expired credit cards.
Card Credit Mobile Service Shopping.com has been a pioneer and leader in comparison
shopping for the past five years.
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Card Credit Discover Service Shopping.com brings an extensive product catalog organized to
help consumers compare millions of products from thousands of
stores. Additionally, Shopping.coms Epinions community of more than
400,000 reviewers has produced nearly two million detailed reviews
that help consumers make informed buying decisions. This unique
shopping experience results in informed shoppers and industry
leading conversion to sale for our merchants.
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Credit Public Service Union EBay has agreed to acquire all outstanding shares of
Shopping.com stock for $21 per share in cash.
- You can set up eBay Checkout to take credit card payments and require buyers to provide their credit card information. If the buyer is using a credit card, contact the card issuer and verify that the name on the card matches both the shipping information and contact information. If you have any doubt about the identity of the buyer, you should contact the credit card company to validate payment before shipping the item. If you have a commercial business that accepts credit cards from customers (not just through eBay), using eBay Checkout, you can select the cards you accept.
Card Credit Processing Service Based on the number of Shopping.com shares outstanding on May
31, 2005, the total consideration would amount to approximately
$620 million. Shopping.coms cash, cash equivalents, and marketable
securities as of May 31, 2005 totaled approximately $140
million.
Center Credit Service Union EBay expects the acquisition to be immaterial to its full-year
2005 pro forma diluted earnings per share, and dilutive to its 2005
GAAP diluted earnings per share due to incremental charges for
stock-based compensation and the amortization of acquired
intangible assets. More information relating to the impact of the
acquisition on eBays 2005 financial guidance will be provided upon
the close of the transaction.
Card Credit Service Wireless The acquisition, which is subject to regulatory and Shopping.com
shareholder approvals, is expected to close in the third quarter of
2005.
Credit Security Service Union (more) eBay to Acquire Shopping.com../2 About Shopping.com
Shopping.com is a global leader in online comparison shopping with
sites in the U.S., the U.K. and France.
Credit Report Service With approximately 50 million unique visitors a month, according
to comScore Media Metrix, it is the third largest shopping
destination on the web. The companys mission is to help shoppers
everywhere use the power of information to find, compare and buy
anything.
Blogspot Com Christian About eBay eBay is The World's Online Marketplace. 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.
Christian Counseling Credit Forward-Looking Statements This announcement contains
forward-looking statements regarding the expected impact of the
acquisition of Shopping.com on eBays financial results. Those
statements involve risks and uncertainties, and actual results
could differ materially from those discussed. Factors that could
cause or contribute to such differences include, but are not
limited to: the receipt and timing of Shopping.com shareholder
approval and regulatory approvals for the transaction; the
possibility that the transaction will not close; the reaction of
the users of eBay and Shopping.com to the transaction; the reaction
of competitors to the transaction; the future growth of
Shopping.coms services; the individual risks faced by each company;
and the possibility that integration following closing will prove
more difficult than expected. More information about potential
factors which could affect either companys business and financial
results is included in each companys Annual Report on Form 10-K for
the year ended December 31, 2004, and each companys Quarterly
Reports on Form 10-Q, and other periodic filings and prospectuses.
All forward-looking statements are based on information available
to eBay and Shopping.com on the date hereof, and eBay and
Shopping.com assume no obligation to update such statements.
Credit Federal Service Union Shopping.coms investors and security holders are urged to read
the proxy statement regarding the business combination transaction
referenced in this press release when it becomes available and as
it may be amended from time to time. The proxy statement will be
filed with the Securities and Exchange Commission by Shopping.com.
Shopping.coms investors and security holders may obtain a free copy
of the proxy statement, when available, and other documents filed
by Shopping.com with the Commission at the Commissions web site at
http://www.sec.gov. Free copies of the proxy statement and
Shopping.coms other filings with the Commission may also be
obtained by directing a request to Shopping.com Investor Relations
at (415) 217-7722 or at http://investor.shopping.com. Free copies
of eBays filings may be obtained by directing a request to eBay
Investor Relations at (408) 376-7493 or at
http://investor.ebay.com.
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