The California-based online market site eBay Inc plans to spend over NT$100 million to acquire a Taiwanese e-commerce venture, local Chinese-language media reported last week.
The local partner was said to be NeoCom Technology Co (
NeoCom's first online marketplace, ubid.com.tw (買賣王), was set up in Oct. 1998 as the nation's first second-hand shopping site. The company's bid.com.tw (拍賣王) site, established one year later, specializes in online auction services.
EBay has so far refused to confirm or deny the deal, while one industry insider said the company will announce its alliance partner this week.
"Several high-level eBay officials will come to Taiwan this week, and plans won't be released until then," an anonymous official at a Taipei public relations company linked to eBay said.
Founded in 1995, eBay creates online auction platforms that allow Internet users to buy and sell products on the Web.
The venture reported US$90.4 million in net income last year -- a 74 percent rise in net revenue growth, and forecast sales to hit US$3 billion in 2005.
Setting up its newest branch office in Singapore in October of last year, eBay now offers online trading services in North America, Europe, South Korea, Japan, Hong Kong, Australia and New Zealand.
EBay expects its international portfolio of businesses to reach profitability on a fully allocated aggregate basis this year. And by 2005, about one-third of eBay sales will come from Asia market.
EBay is said to have already met with several local operators.
Last year, eBay reportedly met with Internet portal operator PC Home Online (
Another US-based online marketplace, Priceline.com, is poised to enter Taiwan and plans to set up its local branch office in March, Chinese-language media reported.
The company's Asia business entity established last year, Hutchison-Priceline Co, is a joint venture between Priceline.com and Hong Kong-based conglomerate Hutchison Whampoa.
Priceline.com is an online travel service center, featuring airline ticketing, accommodation reservation and car-rental services.
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