Auctionbytes-NewsFlash, Number 320 - May 21, 2002 - ISSN 1539-5065
Previous Story |
| Next Story
eBay Invests in Auction Service Provider FairMarket
By Ina Steiner
AuctionBytes.com
Reading AuctionBytes: eBay Invests in Auction Service Provider FairMarket
eBay announced it has made a strategic equity investment in FairMarket, a provider of ecommerce and auction-management solutions. In April, the two companies had announced that FairMarket would run eBay's loyalty marketing programs for third-party companies in an exclusive deal. FairMarket provides the platform for the promotional loyalty program that eBay is testing with Burger King Corporation.
"Our investment in FairMarket is evidence of the ongoing value FairMarket brings to eBay as a result of FairMarket's platform and service capabilities," said Jeff Jordan, senior vice president & general manager of eBay. The two companies began working together when FairMarket was among the first companies to integrate eBay's API and later joined eBay's Preferred Solution Provider program.
Under the terms of the investment, eBay invested $2 million and received 952,380 shares of Series B Preferred Stock of FairMarket for a per share price of $2.10 and certain registration rights.
Investing in companies in the auction services field is not new to eBay. In January, eBay participated in a round of funding by ChannelAdvisor Corporation. It also owns equity in ReturnBuy, an online liquidator. http://www.fairmarket.com
Email this story to a friend. Previous Story |
| Next Story
Related Stories
Used Cars on eBay - July 01, 2000, Issue #17
eBay and Andale Expand Agreement - January 21, 2001, Issue #1
FairMarket Extends CRM Capability - February 11, 2001, Issue #18
FairMarket Merchants Allowed on eBay Platform - February 20, 2001, Issue #24
FairMarket Introduces Discount Shopping Online - February 26, 2001, Issue #28
eBay and Microsoft Rub Noses - March 12, 2001, Issue #39
eBay and Excite@Home Team Up Down Under - April 16, 2001, Issue #63
FairMarket CEO Resigns, Company Announces Lay Offs - May 15, 2001, Issue #82
eBay and CMP Media Announce Marketing Agreement - May 16, 2001, Issue #83
eBay Inks Deal with Terra Lycos - June 06, 2001, Issue #97
Microsoft and FairMarket Cancel Exclusivity Deal - July 04, 2001, Issue #116
FairMarket Signs UK's Top Online Retailer - July 30, 2001, Issue #129
eValueville.com Chooses FairMarket to Help Sell on eBay - August 13, 2001, Issue #139
AOL Time Warner Agrees to Market eBay in Magazines, on TV and Online - August 14, 2001, Issue #140
FairMarket Trims 35% Of Its Staff - August 22, 2001, Issue #146
eBay and IBM Cozy Up with Technology/Marketing Agreements - September 06, 2001, Issue #157
SONICblue Chooses FairMarket Auction Technology - September 10, 2001, Issue #159
FairMarket Flourishes in Faltering Economy - October 24, 2001, Issue #189
Companies Announce Full-Service Solution for Selling Excess Inventory & Returned Products - October 29, 2001, Issue #192
Meanwhile, FairMarket Says Its Solutions Have Helped eValueville.com - October 31, 2001, Issue #194
Burger King on eBay? The New 'Home of the Whopper' - November 15, 2001, Issue #204
Boston Sports & Entertainment Arena to Use FairMarket Auction Technology - November 19, 2001, Issue #206
FairMarket Announces Two New Major Customers - December 03, 2001, Issue #214
eBay Makes Deal with EstateSaleDirect - January 10, 2002, Issue #236
eBay Steps Up Offerings in Automobile and Real Estate Categories - January 22, 2002, Issue #243
eBay Extends Strategy to Include Consumer Services - February 05, 2002, Issue #252
eBay Selects Collaborative Solution to Handle High Volume Customer Support - March 26, 2002, Issue #284
Catalog Merchants Turn to eBay to Expand Online Sales - March 28, 2002, Issue #286
eBay and FairMarket Announce 'Whopper' Deal - April 24, 2002, Issue #303
eBay Makes Ad Spending Contingent upon AOL Performance - May 13, 2002, Issue #315
Auction Service Firm FairMarket Buys Back Stock - August 09, 2002, Issue #372
eBay Launches Extended Warranty Program for Consumer Electronics - October 16, 2002, Issue #414
PayPal Integration Continues, FairMarket Gets on Board - October 23, 2002, Issue #419
FairMarket Announces Third Quarter Financial Results - October 29, 2002, Issue #424
UK Wholesaler Selects FairMarket Platform for B2B Marketplace - January 28, 2003, Issue #471
Latedeals.com Chooses FairMarket as Online Auction Technology Provider - February 27, 2003, Issue #492
FairMarket Releases 2002 Financials, Hires New VP-Worldwide Sales - February 28, 2003, Issue #493
FairMarket to Work with Ad Agencies on Custom Online Programs for Clients - March 05, 2003, Issue #496
Fairmarket to Power De Vere Luxury-Hotel Auction Site - March 20, 2003, Issue #504
Auction Company FairMarket Finds Focus in Loyalty Programs - May 02, 2003, Issue #530
UK Auction Site Nominated for Two Awards - May 29, 2003, Issue #546
FairMarket Powers MTV / Dunkin' Donuts Summer Promotion - June 11, 2003, Issue #555
eBay to Acquire FairMarket Auction Company - June 22, 2003, Issue #97
FairMarket Enters into Acquisition Agreement with eBay - June 23, 2003, Issue #562
FairMarket Sets Date for eBay Decision, Will Become Dynabazaar - August 08, 2003, Issue #588
eBay Buys FairMarket Assets for $4.5 Million - September 05, 2003, Issue #602
Dynabazaar Completes Transition Services, Announces Management Changes - January 10, 2004, Issue #678
eBay Provides Reed Construction Data to Users - September 09, 2005, Issue #1103
Discuss this story in our forums.
