Recent Blog Posts
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MSNBC.com "Knows a Trend When It Sees One"
Nov 23 20094:11 pm EDT -
Windows 7 Spin May Be on the Money
Nov 23 20098:44 am EDT -
Mapping Company Raises Millions
Nov 20 20094:09 pm EDT -
Facebook Valuations Are All Over the Map
Nov 20 200911:30 am EDT -
The Future of Tech, 2010 Edition
Nov 20 20099:13 am EDT -
Automatic Pancake-Making Machine Attracts $2 Million in Capital
Nov 19 20094:53 pm EDT -
Apple Talk of Microsoft's Annual Meeting
Nov 19 20091:27 pm EDT -
There Is Still Hope for the News Business
Nov 19 200911:50 am EDT -
The Google Phone May Be Near
Nov 18 20094:10 pm EDT -
Amazon Grocery Service Goes Mobile with iPhone
Nov 18 20099:13 am EDT
Links
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- Mark Cuban's blog
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Ebay's Mass Layoffs and Shopping Spree
Andrea Chalupa writes: As anticipated, eBay let go of 10% of its workforce--1,000 employees, along with hundreds of temporary workers.
The mass layoffs will impact eBay's fourth quarter with a $70 to $80 million pretax restructuring charge.
The ailing online auctioneer is also expanding. Today the company announced plans to acquire the Amazon-funded online payment business BillMeLater for $820 million in cash and roughly $125 million in outstanding options. It also plans to purchase Danish classified company Den Bla Avis (DBA) for $390 million in cash.
Ebay has been suffering from a dip of buyers and sellers as more online shoppers move to fixed-price systems.
The company is set to announce third-quarter results on October 15 and warns to expect revenue to be on the lower end of original projections. Ebay's stock is down around 6 percent so far today, holding steady at a 52-week low.
