eBay Inc & Matrix Partners announce new partnership

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eBay Inc . & Matrix Partners India today announced a new partnership in Kijiji India , the online classifieds-style website that allows local communities to meet, help one another and interact over shared interests.

 

Kijiji India ( www.kijiji.in ) is a simple, easy-to-use and convenient platform that meets the personal needs of the local community in a city. Kijiji can help you to buy or sell a used car, look for an apartment on rent, buy or sell a house, look for a job or hire people, and much more. In India, Kijiji launched in November 2005 & is now present in 12 cities - Mumbai, Delhi, Bangalore, Chennai, Hyderabad, Kolkata, Ahmedabad, Coimbatore, Chandigarh, Kochi, Mysore and Pune. 

 

"To win local classifieds in India, it is necessary to build out a local platform, with a strong partner that can provide deep insight and access to the local market." said Rajan Mehra, Country Manager, eBay India. "We are delighted to work with Matrix Partners India to continue to grow Kijiji India. With their proven track record of investing in early stage businesses and building companies that people across India will trust and rely on, we believe we have the best possible partner in Matrix Partners India."

 

"Our investment in Kijiji India demonstrates our continued focus on early stage investing in addition to our growth stage focus." said Avnish Bajaj, Co-founder and Managing Director, Matrix Partners India. "We have been following the early success of Kijiji with small businesses and local communities with great interest and look forward to working with the start up team to scale its offerings and successfully grow the business."

 

Further terms of the agreement were not disclosed. eBay Inc. does not expect this acquisition to have a material impact on its 2008 financial guidance issued in conjunction with its fourth quarter earnings release on January 23, 2008. 

 

Sourced From: Vaishnavi Corporate Communications Pvt Ltd