SAN
JOSE, Calif., June 20,
2022 /PRNewswire/ -- eBay Inc. (NASDAQ: EBAY) today
announced it will be taking steps to close its marketplace business
in Turkey, GittiGidiyor. eBay
acquired the majority stake in GittiGidiyor in 2011 and has
operated the business as an independent platform. eBay regularly
reviews its business operations globally and made this difficult
but strategic decision based on the ongoing competitive dynamics in
the market.
eBay will work closely with GittiGidiyor buyers and sellers to
assist in the migration off the platform, and will share more
detailed information with them directly later today. As of today,
sellers will no longer be able to list new items and as of
July 18, buyers will no longer be
able to make new purchases. Buyers and sellers will be able to
access their My Account page until September
5, 2022.
The closure of the GittiGidiyor business is not anticipated to
have a material impact on eBay's Q2 or full year results. For
reference, GittiGidiyor contributed approximately 4 million active
buyers to eBay's consolidated active buyer count at the end of Q1
2022.
Forward-Looking
Statements
Certain statements herein are "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Exchange Act. Such forward-looking
statements are often identified by words such as "anticipate,"
"approximate," "believe," "commit," "continue," "could,"
"estimate," "expect," "hope," "intend," "may," "outlook," "plan,"
"project," "potential," "should," "would," "will" and other similar
words or expressions. Such forward-looking statements reflect
eBay's current expectations or beliefs concerning future events and
actual events may differ materially from historical results or
current expectations. The reader is cautioned not to place undue
reliance on these forward-looking statements, which are not a
guarantee of future performance and are subject to a number of
uncertainties, risks, assumptions and other factors, many of which
are outside the control of eBay. The forward-looking statements in
this document address a variety of subjects including, for example,
plans to close the Turkey
marketplace business and the potential impacts on eBay's financial
results of such plans. Actual results are subject to other risks
and uncertainties that relate more broadly to eBay's overall
business, including those more fully described in eBay's filings
with the Securities and Exchange Commission, including its annual
report on Form 10-K for the fiscal year ended December 31, 2021 and subsequent quarterly
reports on Form 10-Q. The forward-looking statements in this
document speak only as of this date. We undertake no obligation to
revise or update publicly any forward-looking statement, except as
required by law.
About eBay:
eBay Inc. (Nasdaq: EBAY) is a global commerce leader that
connects people and builds communities to create economic
opportunity for all. Our technology empowers millions of buyers and
sellers in more than 190 markets around the world, providing
everyone the opportunity to grow and thrive. Founded in 1995 in
San Jose, California, eBay is one
of the world's largest and most vibrant marketplaces for
discovering great value and unique selection. In 2021, eBay enabled
over $87 billion of gross merchandise
volume. For more information about the company and its global
portfolio of online brands, visit www.ebayinc.com.
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SOURCE eBay Inc.