Oct 25 2008
eBay Still Buying the World
eBay learned nothing by overpaying for Skype when it had nothing to do with their basic business model. The company has suffered ever since, and has had to lay off hundreds of employees. But, heck, why should that stop them from buying another unrelated company?
eBay is now paying almost a billion dollars for Bill Me Later, the Internet’s equivalent to a check cashing store. For exorbitant fees, people can use it to defer payments on things. I’m guessing that now, in the middle of a credit crisis, eBay is thinking that they can integrate this with eBay. Then, people will use the service to finance small purchases so that they can pay more for them in the middle of a recession. Oh, eBay. You so crazy!
