- CNet, Monday, December 20, 2010 12:46 PM
Capping off a huge year for social ecommerce -- even without a Google/Groupon deal -- eBay has agreed to buy Berlin-based daily-deal site brands4friends for $200 million. "The acquisition," reports CNet
, "is designed to build up the auction site's reputation as a source for clothing, shoes, and accessories among European buyers."
Thanks to the deal, said eBay Europe SVP Doug McCallum, "We will enter the online shopping club market with an established and dynamic partner who has the expertise, relationships and passion to match
our own ambition."
While it already accounts for about $4.5 billion in clothing, shoe, and accessory sales annually, eBay is aggressively seeking a greater share of "fashion" ecommerce.
Earlier this year, for example, eBay launched Fashion Vault -- a partnership with retailers to sell designer clothes at steep discounts. In Europe, daily-deals presently make up about 20% of all
online fashion sales. Launched in 2007, brands4friends has about 3.5 million members in Germany and employs around 200 people.
Read the whole story at CNet »