eBay Expands Link to AutoTrader

By Sushuma on 2000-03-08 10:16:12

(Reuters)-Web auctioneer eBay yesterday said that it will join with AutoTrader.com to build a new auction site on the Web and make a cash investment of an undisclosed amount in AutoTrader.?The deal combines the huge inventory of cars listed with AutoTrader with eBay's millions of customers who bid for a wide variety of items online.?The companies said their venture will become the biggest player in the emerging market for online car auctions.?eBay, which already operates a relatively small online car business, said it would make a cash investment in AutoTrader to "solidify" the deal, but did not disclose its size.?AutoTrader, which has print and online units, is viewed as a candidate for going public sometime during the year.?"This is important for eBay, as the used-car market represents a large opportunity and is a market that eBay was in the initial stages of developing," said Merrill Lynch analyst Henry Blodgett in a report.

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