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» eBay buys Denmark’s DBA for 275 million euro, U.S.-based Bill Me Later for approximately 600 million euro, and cuts jobs – The Next Web

   

eBay buys Denmark’s DBA for 275 million euro, U.S.-based Bill Me Later for approximately 600 million euro, and cuts jobs

robin Written on 6th October 2008                                                                                                              4 COMMENTS some text
Robin Wauters, Next web enthusiast & Plugg organizer

eBay buys Denmarks DBA for 275 million euro, U.S. based Bill Me Later for approximately 600 million euro, and cuts jobs

TechCrunch is reporting that eBay has acquired the company that runs DBA.dk, the so-called “eBay of Denmark” for 2.1 billion Kroner, or about 275 million EUR. The company has also acquired vehicles site bilbasen.dk, which TC hasn’t mentioned in the original report.

But that’s not all.

In payments, 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. John Donahoe, eBay’s president and chief executive officer says the service is a perfect complement to their portfolio, “a company that belongs with PayPal”.

At the same time, the company is reducing its global workforce by approximately 10 percent, affecting about 1,000 employees in addition to several hundred temporary workers and the reduction of open positions. Valleywag got it right. The reduction is expected to result in pretax restructuring charges of approximately $70 million to $80 million, with the charges predominantly recorded in the fourth quarter of 2008.

eBay is scheduled to announce third quarter results on October 15.

The press release about the acquisitions and the job cuts can be found here.

4 Comments »
About the author: Robin Wauters is a Belgium-based social media consultant, startup advisor, blogger, entrepreneur, Twitter fanatic, conference organizer and allround web addict. Between trying out just about every new web application that gets in his sight, he advises local startups like ContactOffice, Oxynade and Yuntaa. And when he's not busy trying to keep tabs with what's going on in the virtualization & cloud computing industry as managing editor of Virtualization.com, he's probably working on the organization of Plugg, an annual celebration of European web entrepreneurship.

4 comments/trackbacks to “eBay buys Denmark’s DBA for 275 million euro, U.S.-based Bill Me Later for approximately 600 million euro, and cuts jobs”

  1. Oct 6, 2008: Ebay Spends More Than $1 Billion To Buy BillMeLater And DBA.dk, And Lays Off 10% Of Employees

    [...] a big day for eBay. The company is laying off 10% of its workforce, or about 1,000 employees plus several [...]

  2. Oct 6, 2008: Ebay Spends More Than $1.2 Billion To Buy BillMeLater And DBA.dk, And Lays Off 10% Of Employees  »TechAddress

    [...] made two acquisitions: Denmark’s DBA for $380 million and Amazon-funded BillMeLater for $820 million in cash and approximately $125 million in outstanding [...]

  3. Oct 6, 2008: TechCrunch Japanese アーカイブ » eBayが$1.2B超でBillMeLaterとDBA.dkを買収し、社員10%をレイオフ

    [...] 社員を切る一方、eBayは2つの買収を行った。デンマークの「DBA」を$380M（3億8000万ドル）で、アマゾンが出資する「BillMeLater」は$820M（8億2000万ドル）の現金と$125M（1億2500万ドル）の発行済みオプションで買収した。 [...]

  2. By anonymus on Oct 7, 2008

    this is amazing http://www.real-wishes.com

    Reply

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