Filed under: Internet, Web services
eBay lays off 1000 workers, buys Bill Me Later
First up, eBay will buy Danish competitor DBA for more than $380 million. But the big news for folks who don't live in Denmark is the $945 million the company is spending to purchase Bill Me Later, a company which allows web sites to perform instant credit checks based on your birth date and last four digits of your social security number allowing online retailers to extend you instant credit and send you a bill later.
Bill Me Later's technology will be used to complement eBay's existing PayPal online payment system.
There's no question that eBay needed to do something to deal with increasing competition from Amazon Marketplace and other online stores/auction houses. But I have to say, if I were one of the 1,000+ people getting laid off, I wouldn't be to happy to see my former employer spending this kind of cash on acquiring new properties.
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Reader Comments (Page 1 of 1)
kriscolumbus said 3:33PM on 10-06-2008
I agree with you. Although it's an investment, it doesn't seem moral. Employees are also something to invest in, and I don't think spending a billion dollars on Bill Me Later will be worthwhile.
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Mike said 5:10PM on 10-06-2008
Meh- those are two completely separate issues...
I'm tired of the bellyaching about layoffs, especially if the company needs to trim fat.
As for the acquisition, yes, it seems like an inflated price regardless of the fact.
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Racetrack_Owner said 6:15PM on 10-06-2008
And this has what to do with downloads, again?
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SleepingPanda said 11:01PM on 10-06-2008
That's just what I was thinking.
Kevin said 8:30AM on 10-07-2008
Doesn't using BillMeLater hurt your credit score? Isn't it just a small line of credit you're opening? Seems pretty ridiculous.
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Ken said 7:37AM on 10-10-2008
This is stupid and for people that are to lazy to put in their credit card number. I really hate Ebay with a passion to and would not contribute a dime to their revenue stream. Plus I am sure I would not get any rewards for using this service. I would much rather slap down my No Hassle Card.
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