eBay Acquires Milo, real-time local shopping engine

ebay wins back craigslist stake sign  buildingTerms of the agreement were not disclosed.

This acquisition will provide eBay consumers with access to millions of products from approximately 50,000 stores across all 50 U.S. states. Additionally, eBay sellers will also be able to extend their offerings to more shoppers.

eBay plans to integrate Milo’s local product feeds into its online marketplace and mobile apps. eBay’s barcode-scanning iPhone application, RedLaser, will soon be available with the addition of Milo local results.

“Local commerce companies like Milo are blurring the lines between in-store and online shopping,” said Mark Carges, chief technology officer and senior vice president, global products, eBay Marketplaces. “By making accurate, real-time, local store inventory and pricing available to online and mobile shoppers, we see a huge opportunity for local retailers, small businesses and eBay sellers to reach more buyers, and for consumers to make more informed buying decisions.”

Carges continued, “Since eBay is an online marketplace and doesn’t compete with brick-and-mortar stores, adding local store inventory to the eBay marketplace is a natural extension of what we’ve been doing for 15 years – bringing buyers and sellers together to access the largest selection available anywhere.”

According to comScore Inc., eBay handled the lions share of U.S. product searches in the third quarter, with more than 2 billion U.S. product searches. Amazon saw 847 million and Google handled 226 million product searches over the same period.

eBay expects that the integration of Milo on both its site and mobile applications will help consumers find great deals, whether looking to buy online or in-store. Clearly eBay realizes that there will be more cross-channel shopping and research by consumers moving forward. Forrester predicts that cross-channel shopping – researching online, buying offline – sales will be $1.3 trillion and account for nearly 50% of total retail sales by 2013.