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Bangkok, Thailand, May 28, 2007 eBay Inc. (Nasdaq: EBAY) today announced an agreement with Sanook!, the leading online portal in Thailand, to launch an e-commerce site that will enable individuals and businesses in Thailand to participate in local trade as well as cross border trade through eBays global Web sites. Under this revenue-sharing agreement, the co-branded site -- Sanook! eBay -- will be managed and operated under a newly formed Sanook! subsidiary. The Thai-language local site is expected to launch in approximately five to seven months.
According to research firm IDC, Thailand currently has more than 16 million Internet users a figure expected to grow at a compound annual growth rate of 25 percent through 2009. The agreement gives eBay the opportunity to participate and drive economic growth in the region. Once the site is launched, Thailand will be the 38th market where eBay has a local presence.
The e-commerce community in Thailand is among the most active weve seen anywhere, said Lorrie Norrington, president, eBay international marketplaces. Through this agreement, we are combining our core competency in cross border trade with Sanooks local market expertise to deliver the best e-commerce experience for Thai users, enabling them to not only engage in domestic trade but also to buy from and sell to the world.
We are pleased to partner with eBay in creating this new e-commerce site which we believe will provide new economic opportunities for the growing online community in Thailand, said Torboon Puangmaha, chief executive officer, Sanook Online Limited. As Thai Internet users become more comfortable doing transactions online, there is a tremendous opportunity to leverage the eBay global online marketplace via the local co-branded site created especially for Thai users. We expect that the Sanook! eBay Web site will quickly become a popular place for people to buy and sell a wide variety of items both within Thailand as well as internationally.
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About Sanook |
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Sanook.com was established in 1998 as a subsidiary of MIH Group, a wholly-owned subsidiary of Naspers Limited. Naspers Limited (JSE: NPN, NASDAQ: NPSN), is a multinational media company operating in 50 countries. Its principal operations include electronic media (including pay-television, Internet and instant-messaging subscriber platforms and the provision of related technologies) and print media (including the publishing, distribution and printing of magazines, newspapers and books, and the provision of private education services). Sanook! is a leading Internet brand and the most trafficked Internet destination for Thais. Sanook! offerings are search engine, marketplace, entertainment, infotainment, communication, social networking, mobile services, online advertising and search marketing.
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About eBay Inc. |
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Founded in 1995, eBay Inc. connects hundreds of millions of people around the world every day, empowering them to explore new opportunities and innovate together. eBay Inc. does this by providing the Internet platforms of choice for global commerce, payments and communications. Since its inception, eBay Inc. has expanded to include some of the strongest brands in the world, including eBay, PayPal, Skype, Shopping.com, and others. eBay Inc. is headquartered in San Jose, California.
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Forward-Looking Statements |
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This announcement contains forward-looking statements regarding eBay, Sanook.com and the expected impact of eBay�s commercial agreement with Sanook.com on eBay's financial guidance. Those statements involve risks and uncertainties, and actual results could differ materially from those discussed. Factors that could cause or contribute to such differences include, but are not limited to, risks associated with eBay's international operations, the rate of growth of the e-commerce market in Thailand, the reaction of competitors to the agreement, and the possibility that the expected benefits of the commercial agreement with Sanook.com may not materialize to the extent expected or at all. More information about potential factors that could impact eBay's business and financial results is included under the captions, "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations," in eBay's Annual Report on Form 10-K for the fiscal year ended December 31, 2006 and Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2007 which are on file with the U.S. Securities and Exchange Commission (the "SEC") and available at the SEC's website at www.sec.gov. All forward-looking statements are based on information available to eBay on the date hereof, and eBay assumes no obligation to update such statements.
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