Friday, September 10, 2010

EBay CEO Sees 80% Cross Border Transaction Growth This Year


EBay, owner of e-commerce sites and PayPal payment services, announced that it doesn’t intend to compete in China’s domestic market and will instead focus on exports and cross border trades.

The company’s Chief Executive Donahoe said, “Over time, we will look for opportunities to partner or joint venture or work together with Chinese companies.” He went onto say, “We’ve, in essence, exited the domestic market.” Donahoe also said that cross-border transactions will rise over 80% to $4 billion this year.