Get ready for the world’s biggest online classifieds group as eBay sells unit in multi-billion deal

Time 1 year ago

The world’s biggest online classifieds group is being created with the multi-billion-dollar sale of eBay’s classifieds unit to Adevinta, which was announced today (Jul 21).

It will give the new group classified ad websites in 20 countries, reaching a billion people and getting about three billion visits every month.

The deal – worth $9.2bn (circa £7.2bn) – will see the US company receive $2.5bn (circa £1.96b) in cash and make it the largest shareholder in the Norwegian firm, with a 44 per cent equity stake and a third of the voting rights.

Among eBay’s classified brands are Gumtree in the UK and Australia, as well as in Germany, Kijii in Canada, Marktplaats in the Netherlands and Vivanuncios in Mexico.

Last year, Gumtree Motors joined eBay Motors and to form eBay Motors Group, as reported by Car Dealer.

Adevinta chief executive Rolv Erik Ryssdal said: ‘With the acquisition of eBay Classifieds Group, Adevinta becomes the largest online classifieds company globally, with a unique portfolio of leading marketplace brands.’

It also owns Leboncoin, which is France’s biggest online classifieds site, as well as classified businesses in more than 12 other countries in Europe, Latin America and North Africa.

Adevinta was spun off last year from Norwegian media company Schibsted.

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