Reuters: Deals: EBay to sell Rent.com to PRIMEDIA

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EBay to sell Rent.com to PRIMEDIA Mar 22nd 2012, 21:39 Tweet Share this Email Print Related News Insight: The Wall Street gold rush in foreclosed homes Tue, Mar 20 2012 Exclusive: PayPal backtracks on "obscene" e-book policy Tue, Mar 13 2012 Exclusive: Google leans on developers to use payment service Fri, Mar 9 2012 Yelp soars in market debut on Facebook optimism Fri, Mar 2 2012 Analysis & Opinion Why journalists need to link Related Topics Tech » Deals » Global Deals Review: 2011 Q3 » Global Deals Review: 2011 Q2 » Global Deals Review » Inflows Outflows » Visitors chat next to the Ebay logo at the CeBIT computer fair in Hanover March 2, 2011. Credit: Reuters/Tobias Schwarz By Alistair Barr SAN FRANCISCO | Thu Mar 22, 2012 5:39pm EDT SAN FRANCISCO (Reuters) - EBay Inc agreed to sell its Rent.com unit to PRIMEDIA as the company shifts away from classified and listings businesses to focus on other e-commerce and payments efforts. The transaction is expected to close in the second quarter. Terms of the deal were not disclosed. EBay agreed to buy Rent.com for more than $400 million in late 2004. At the time, the company said the deal, which was mostly paid for with stock, would help eBay get into a new segment of the online real estate market. More recently, eBay has been focused on improving its main online marketplace and expanding its PayPal payments business. Rent.com is a leading online listing website for rental properties. The business will be added to several other rental websites already owned by PRIMEDIA, including ApartmentGuide.com, Rentals.com, RentalHouses.com and NewHomeGuide.com. PRIMEDIA was bought by affiliates of private-equity giant TPG Capital last year. (Reporting By Alistair Barr; Editing by Bernard Orr) Global Deals Review: 2011 Q3 Global Deals Review: 2011 Q2 Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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