EBay acquires local shopping engine Milo
The driving force behind the deal was that it enabled EBay sellers to reach more shoppers, the San Jose company said.
EBay wants to connect with local brick-and-mortar retailers, and traditional shops want to reach more online buyers.
On Milo’s website, the Palo Alto company said its “mission is to bring every product, on every shelf, of every store in the physical world onto the Internet.”
EBay’s shares rose 2.2% to $29.91 on news of the deal.
“Local commerce companies like Milo are blurring the lines between in-store and online shopping,” Mark Carges, an EBay vice president, said in a statement. “We see a huge opportunity for local retailers, small businesses and EBay sellers to reach more buyers, and for consumers to make more informed buying decisions.”
-- W.J. Hennigan