eBay Inc and Matrix Partners India have announced a new partnership in Kijiji India, the online classifieds-style website that allows local communities to meet, help one another and interact over shared interests.
Rajan Mehra, Country Manager, eBay India, said, “To win local classifieds in India, it is necessary to build a local platform with a strong partner that can provide deep insight and access to the local market. We are delighted to work with Matrix Partners India to continue to grow Kijiji India. With their proven track record of investing in early stage businesses and building companies that people across India will trust and rely on, we believe we have the best possible partner in Matrix Partners India.”
Avnish Bajaj, Co-founder and Managing Director, Matrix Partners India, said, “Our investment in Kijiji India demonstrates our continued focus on early stage investing, in addition to our growth stage focus. We have been following the early success of Kijiji with small businesses and local communities with great interest and look forward to working with the start-up team to scale its offerings and successfully grow the business.”
Further terms of the agreement were not disclosed at the time of filing the report. eBay Inc does not expect this acquisition to have a material impact on its 2008 financial guidance issued in conjunction with its fourth quarter earnings release on January 23, 2008.
Kijiji India is a simple, easy-to-use and convenient platform that meets the personal needs of the local community in a city. Kijiji can help the Net user buy or sell a used car, look for an apartment on rent, buy or sell a house, look for a job or hire people, etc. In India, Kijiji was launched in November 2005 and is now present in 12 cities – Mumbai, Delhi, Bangalore, Chennai, Hyderabad, Kolkata, Ahmedabad, Coimbatore, Chandigarh, Kochi, Mysore and Pune.