eBay Partners With Young Bae Ku To Expand Gmarket Into Japan and Singapore

Posted May 9, 2010

eBay Inc. (NASDAQ:EBAY) acquired Korean auction website Gmarket for $1.2 billion last fall and they plan to expand it. eBay is partnering with Gmarket founder Young Bae Ku to expand Gmarket to Singapore and Japan. Ku will become the CEO of Gmarket in Singapore and Japan. eBay will own a 49% stake in the joint venture. eBay and Ku will invest $10 million each into the new venture. [TechCrunch]