Was Ebay’s BillMeLater Acquisition A Huge Blunder? (40)
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Michael Arrington (247)
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When eBay paid $945 million for BillMeLater in October, we blinked. The business assigns credit at the point of sale to ecommerce customers who can’t use credit cards because they don’t have them, have maxed out credit limits, or choose not to. It charges fees much like a credit card - currently 19% interest. The credit markets were already a wreck in October, with accelerating defaults on credit card accounts. And worse, the securitization markets ...
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Tamsin said:
Poor eBay. What were they thinking?
Granting Credit On The Fly. Is Bill Me Later Part Of the Problem Or Part Of The Solution? (1)
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Erick Schonfeld (64)
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On the same day the public markets are tanking because of the spreading credit crisis, we see one of the biggest M&A exits of the year with eBay acquiring Bill Me Later for $945 million ($820 million in cash, plus an extra $125 million in options). The only other tech exits of this size in 2008 were Sun buying MYSQL for $1 billion (which involved less cash and more options), AOL buying Bebo for $850 ...
