SAN JOSE, Calif. & BERLIN--(BUSINESS WIRE)--eBay Inc. (Nasdaq: EBAY) today announced it completed its previously announced acquisition of brands4friends, Germany’s largest online shopping club for fashion and lifestyle.
In accordance with the terms of the acquisition agreement announced on Dec. 20, 2010, eBay acquired brands4friends for a transaction value of approximately US$200 million (EUR150 million) in cash.
Founded in 1995 in San Jose, Calif., eBay Inc. (NASDAQ:EBAY) connects hundreds of millions of buyers and sellers globally on a daily basis through eBay, the world's largest online marketplace, and PayPal, which enables individuals and businesses to securely, easily and quickly send and receive online payments. We also reach millions through specialized marketplaces such as StubHub, the world's largest ticket marketplace, and eBay Classifieds sites, which together have a presence in more than 1,000 cities around the world. For more information about the company and our global portfolio of online brands, visit www.ebayinc.com.
brands4friends.de is Germany’s largest online shopping club with approximately 3.5 million registered club members, who are on average 32 years old. brands4friends.de is one of the fastest growing ecommerce communities worldwide, with successful international operations in Austria, the U.K. and Japan. With a total of 3.5 million members in Germany, brands4friends.de sells high-quality goods from renowned fashion and lifestyle brands at significantly reduced prices exclusively to its members. brands4friends.de presents limited special offers on a daily basis of high-quality products from more than 600 manufacturers, representing both overstocks from current collections as well as "off season" goods and special collections. brands4friends.de went online in September 2007 and currently employs 200 people at its headquarters in the center of Berlin. The company’s Chief Executive Officer is Sergio Dias. Operated by Private Sale GmbH, brands4friends.de has already been awarded numerous distinctions.