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October 24, 2012

eBay Sees Growth in Russia, Looking for Local Partner

By Ed Silverstein, TMCnet Contributor

eBay (News - Alert) is looking for a local partner in Russia with a report earlier this month that the number of Russians using the site will jump 82 percent by the end of the year.

The projection came from the man who heads up Russia’s eBay office, Vladimir Dolgov. eBay has been in Russia since 2010, and PayPal (News - Alert) is also expected to expand into Russia. A local partner in Russia will be able to address “logistical hurdles,” Reuters reported.

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"Imagine if tomorrow we could improve logistics," Dolgov told Reuters (News - Alert). "We could then throw away all our plans because everything will soar, so that all our most optimistic predictions will seem like baby talk."

In addition, Reuters said that eBay has insufficient delivery services in Russia, as opposed to consumers using the state postal service, which has many delays.

"We will be looking for a partner who will make it possible to deliver everything quite fast within Russia, and this will of course serve as a major catalyst of our growth," Dolgov said.

eBay's focus in Russia is on fashion and technology products, Reuters said.

Russia's e-commerce market was valued at $11 billion in 2011, according to data from East-West Digital News.

In related news, eBay reported recently that global revenue for Q3 went up 15 percent to $3.4 billion, compared to the same quarter in 2011, TMCnet reported. The company also reported Q3 net income (GAAP) was $597 million.

"We had a great third quarter across our company, with Marketplaces and PayPal accelerating customer growth," John Donahoe, the company’s CEO said in a statement. "Mobile continues to be a game changer for us, and we continue to be a clear leader in mobile commerce and payments. With our strong portfolio and global reach, we are consistently demonstrating our capabilities to help consumers shop anytime, anywhere. And we are enabling retailers of all sizes to compete in a rapidly evolving, multichannel commerce environment."

Edited by Brooke Neuman
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