Amazon Beats eBay to Bill Me Later
Amazon (NASDAQ:AMZN) announced an agreement yesterday with Bill Me Later to make it a payment option available on Amazon.com. More importantly, Amazon also announced it is making an undisclosed equity investment in Bill Me Later. I had previously mentioned Bill Me Later as a potential acquisition candidate for eBay (NASDAQ:EBAY). However, with Amazon's investment, not only is that off the table, but PayPal need to start thinking how the competitive landscape may change.
Citigroup Adds eBay to Recommended List
After reiterating a $49 price target on eBay just last week, Citigroup (NYSE:C) on Monday added eBay to its selective "Recommended" list. Analyst Mark Mahaney again states that fundamentals are shaping up stronger than consensus expectations.
Kijiji Starts Monetizing U.S. Site
Following news two weeks ago that eBay's classifieds revenue is growing at triple digits, I have noticed today that eBay is testing text ads on Kijiji's U.S. site for the first time. Given Kijiji's U.S. site is barely six months old, I hope eBay learned its lesson with Skype, and that it proceeds carefully without forcing monetization at the expense of user growth.