Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

EBay Buys Milo.com to Win Users Seeking Local Deals

Dec. 2 (Bloomberg) -- EBay Inc., owner of the second-most visited U.S. e-commerce site, said it bought shopping engine Milo.com to help it reach more consumers looking for products in nearby stores and browsing for bargains with mobile phones.

Milo.com helps consumers find items in stock at local stores and EBay will weave the technology into its existing marketplace and mobile applications, the San Jose-based company said today in a statement. It didn’t disclose deal terms.

EBay Chief Executive Officer John Donahoe, halfway through a three-year turnaround campaign, is looking for ways to use the company’s $5.4 billion in cash to lure customers and narrow a growth gap with Amazon.com Inc., the e-commerce leader.

“Local commerce companies like Milo are blurring the lines between in-store and online shopping,” Mark Carges, a senior vice president at EBay, said in the statement.

Milo.com, based in Palo Alto, California, will help EBay add products to its online marketplace and help consumers find the best prices, the company said.

EBay raised $1.5 billion through the sales of bonds in October, saying the proceeds may be used for acquisitions.

Milo.com, founded in 2007, aggregates products from 140 merchants and about 50,000 stores in the U.S.

EBay rose 65 cents, or 2.2 percent, to $29.91 at 4 p.m. New York time in trading on the Nasdaq Stock Market.

To contact the reporter on this story: Joseph Galante in San Francisco at jgalante3@bloomberg.net

To contact the editor responsible for this story: Tom Giles at tgiles5@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.