It might be a sign of eBay’s utter domination of the online auction market that it has to snap up even the tiny fish to to grow further. Online auction titan Ebay announced today it’s spending $48 million to acquire Sweden’s Tradera.com, a small competitor estimated to carry roughly three-quarters of a million online auctions. Together, the companies say they plan to expand online trading in Sweden and bring more “opportunities” to Swedish consumers and sellers.
“Tradera.com has built an impressive business in Sweden,” said Philipp Justus, general manager of eBay Europe. “An e-commerce pioneer with a strong community focus, Tradera is a natural fit with eBay.”
“Our partnership with eBay validates Tradera.com’s success and position in the industry,” said Tradera.com’s Jonas Nordlander. “By joining forces, Tradera and eBay can help provide Swedish consumers with more opportunities to trade on a national and international basis.”
Tradera was founded in 1999 and developed into Sweden’s leading online auction and trading site, typically carrying more than 750,000 listings at any one time. Conversely, eBay arrived in the Swedish market only in April 2005.