Meg Whitman, Chief Executive Officer, President
Despite the competitive landscape in China, eBay EachNet added a record 2.8 million new users in Q4, bringing the total to 17.9 million users. Listings and others also reached the points, and conversion rates remained strong driving accelerating year-over-year GMV growth. eBay continues to be the online marketplace for serious buyers and sellers in China. With superior cost system we are unique to the tradition to capture China’s evolving ecommerce users. Over the past six month, we have been experimenting with product and pricing changes to attract these users. For example, lastly we need to get integrating Skype into the eBay platform, enhancing online communication with such an important element of trading there. Because Skype is so popular in China, now adding 39,000 new users a day, we have received incredibly positive feedback from the Chinese user community.
Tomorrow, we will be requiring all sellers on eBay EachNet to offer safe payment options on their listings. The two options, PayPal and our local sellers have been very popular today. 85% of listings in China offer one or both. Even our deep expertise in phase trading one of our competitive advantages, we can help buyers and sellers build the truly, trusted online market place in China. In return, we will weigh all final value on eBay EachNet. We tested this formula over the past few months with great success or excited about these changes and the benefits in building our business in China for the long-term.
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