E-commerce company eBay has sold its 28.4 percent stake in Craigslist back to the online classified advertising site, ending years of legal wrangling between the two companies.
The e-commerce giant’s biggest rival, Amazon, is already based out of Seattle.
The Chinese e-commerce powerhouse is expected to start trading Friday on the NYSE in an IPO that values it at $167.62 billion, bigger than the current market value of Amazon, Cisco, and eBay.
Facebook is testing a “Buy” button in its latest effort to help businesses boost their sales through the world’s biggest online social network.
E-commerce startup Fab is quickly growing. The company, which uses flash sales to sell products, is expected to reach 8 million users in the next week.
Struggling Internet company Yahoo Inc. has secured a lifeline after agreeing to sell half of its prized stake in Chinese e-commerce group Alibaba for about $7.1 billion, with most of the cash going to shareholders.
EBay Inc.’s second-quarter results beat analyst expectations Tuesday with growth in its PayPal online payment service and marketplace business – although profit fell 31 percent on charges from its recent purchase of e-commerce retail site operator GSI Commerce.