eBay sees $400 mln-plus in '05 China volume

Iria · Jul 11, 2005, 02:02 PM

SHANGHAI (Reuters) - Online auctioneer eBay Inc. said on Monday it expects its China transaction volume to jump 30 percent or more in 2005, amid an aggressive expansion including a local launch of its PayPal online payment service.

"Based on our first quarter simple calculation of $100 million (in transaction volume), our full year should reach $400 million," eBay's China Chief Operating Officer James Zheng told Reuters at an event to announce the launch of the company's PayPal service in China.

But he added that if the volume increases from quarter to quarter, as it has in recent quarters, the actual transaction amount for the year should reach more than $400 million -- up sharply from about $300 million for 2004.

The strong growth is coming as eBay spends $100 million this year for a broader China expansion -- its biggest investment in a single country for the year.
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Read More / Source: SBC Yahoo! News

Jul 11, 2005, 02:02 PM	#1
Iria DriverHeaven Extreme Member Join Date: Apr 2004 Posts: 7,275 Rep Power: 74	eBay sees $400 mln-plus in '05 China volume SHANGHAI (Reuters) - Online auctioneer eBay Inc. said on Monday it expects its China transaction volume to jump 30 percent or more in 2005, amid an aggressive expansion including a local launch of its PayPal online payment service. "Based on our first quarter simple calculation of $100 million (in transaction volume), our full year should reach $400 million," eBay's China Chief Operating Officer James Zheng told Reuters at an event to announce the launch of the company's PayPal service in China. But he added that if the volume increases from quarter to quarter, as it has in recent quarters, the actual transaction amount for the year should reach more than $400 million -- up sharply from about $300 million for 2004. The strong growth is coming as eBay spends $100 million this year for a broader China expansion -- its biggest investment in a single country for the year. __________ Read More / Source: SBC Yahoo! News