Ticket Monster tools up for e-commerce fight
EBay paid $1.2 billion for a dominant position in Korean online retail in 2009 with the privatization of NASDAQ-listed Gmarket. It was the leading e-commerce marketplace, accounting for KRW3.99 trillion (then $2.6 billion) of the country’s estimated KRW18.1 trillion in total online retail sales in 2008.
Gmarket was integrated with Auction, which was acquired by eBay in 2001 for $120 million. Euromonitor International put the combined market share of these sites at 22% in 2013. Since the Gmarket acquisition,...
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