eBay Gets Stake in Turkish Auction Market
eBay announced yesterday that it has acquired a minority stake in Turkish-based GittiGidiyor.com, an online marketplace structured in a similar manner to eBay. GittiGidiyor reportedly has more than 400,000 listings and 17 million users, which is a considerable percentage of the Turkish population. With the stake in GittiGidiyor, eBay now has the opportunity to enter the Turkish market via a system that's already similar to theirs in functionality and purpose. eBay is already present in over six countries, including Spain, China, France, Australia and Austria. They are also in the process of buying StumbleUpon, the bookmarking and site discovery site.