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eBay Acquires Minority Stake In Popular Turkish Auction Site GittiGidiyor.com

eBay has acquired a minority stake in Turkish online marketplace GittiGidiyor.com. Instanbul-based GittiGidiyor.com (translation: “Going, Going, Gone”) claims 17 million users, a quarter of Turkey’s entire population. eBay called the Turkish e-commerce sector “a highly attractive market for eBay” - after all, the country’s bazaars are the archetypal arenas for haggling. No financial terms were disclosed but eBay said Turkey is now its 37th local territory. Founded in 2000, GittiGidiyor.com’s previous investors include Turkey’s own iLab. It looks like a big deal for GittiGidiyor.com - its founders today scrapped their regular front page for a statement in which they said the eBay investment could accelerate the number of overseas digital investments in Turkey. Release.

May 3, 2007 10:54 AM ET

Posted In: Countries

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