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eBay and ChợĐiệnTử.vn to Drive Ecommerce Growth in Vietnam
A co-branded site is launched under the partnership
 

Ho Chi Minh City, Vietnam, June 17, 2008 – eBay Inc. (Nasdaq: EBAY) today announced a partnership with ChợĐiệnTử.vn, a leading Vietnamese online marketplace to help drive ecommerce growth in Vietnam and open up opportunities for international trade.

Under the agreement, ChợĐiệnTử.vn will morph into a co branded site incorporating the eBay brand and enhanced with improved functionality that will enable individuals and businesses in Vietnam to participate in local trade as well as international trade via eBay’s global websites. The new co branded site, accessible via www.chodientu.vn will be developed and managed by ChợĐiệnTử.vn of PeaceSoft. The site’s domestic marketplace which will faciliate trade between Vietnamese users is expected to launch in approximately one to three months while the cross border trade hub – ebay.chodientu.vn – that will facilitate import and export via eBay’s global online marketplace is expected to launch at a later date.

According to Vietnam Internet Centre’s figures released in November 2007, there are close to 18 million Internet users in Vietnam – approximately 21 percent of the overall population, and research firm IDC predicts that Vietnam’s ecommerce market is expected to grow at a compound annual growth rate of 44 percent through 2010. The agreement gives eBay the opportunity to participate and drive economic growth in the region. Once the co branded site is launched, Vietnam will be the 40th market where eBay has a local presence.

“Vietnam is a rapidly growing online market with tremendous potential,” said Dan Neary, vice president at eBay, overseeing emerging markets. “We are pleased to partner with ChợĐiệnTử.vn , the number one ecommerce player in Vietnam, in creating this new co branded ecommerce site which we believe will provide new economic opportunities for buyers and sellers in Vietnam, enabling them not only to trade domestically but also internationally with approximately 84 million eBay users worldwide.”

“Through this agreement, we are combining our local market expertise with eBay’s core competency in international trade to deliver the best ecommerce experience for Vietnamese users,” said Nguyen Hoa Binh, chief executive officer of PeaceSoft which owns ChợĐiệnTử.vn. “Our vision is to enable individuals and businesses in Vietnam to buy or sell practically anything over the Internet easily and effectively. Through the co branded site, we hope to better equip Vietnamese users to leverage the wide reach and economic benefits of conducting ecommerce. ”

Under the partnership, eBay and ChợĐiệnTử.vn will share revenues from the above co branded site. However, the terms and conditions of the agreement were not disclosed.

 
 
About eBay Inc.
 

Founded in 1995, eBay Inc. connects hundreds of millions of people around the world every day, empowering them to explore new opportunities and innovate together. eBay Inc. does this by providing the Internet platforms of choice for global commerce, payments and communications. Since its inception, eBay Inc. has expanded to include some of the strongest brands in the world, including eBay, PayPal, Skype, StubHub, Shopping.com, and others. eBay Inc. is headquartered in San Jose, California.

 
 

About ChợĐiệnTử.vn

 

Founded in August 2005 by Peacesoft Solutions Corporation with prospective investment by IDG (US), ChợĐiệnTử.vn is one of the pioneers in promoting online trading and auctions in Vietnam. Based on the size of its trading community, unique visitors, listings and transaction volume, ChợĐiệnTử.vn is holding the leading position among similar websites in Vietnam. After nearly 3 years of operation, ChợĐiệnTử.vn has won a series of noble prizes such as Sao Vang Dat Viet (Vietnam Golden Star award), Sao Khue (Venus Star award), PCWorld’s most favourite IT product, The most excellent ecommerce marketplace and Top 100 Private Technology Companies in Asia (RedHerring Asia 100). ChợĐiệnTử.vn is the founder and member of the executive board of Vietnam Ecommerce Association (VECOM).

 
 
Forward-Looking Statements

 

This announcement contains forward-looking statements regarding eBay, ChợĐiệnTử.vn and the expected impact of eBay’s commercial agreement with ChợĐiệnTử.vn on eBay's financial guidance. Those statements involve risks and uncertainties, and actual results could differ materially from those discussed. Factors that could cause or contribute to such differences include, but are not limited to, risks associated with eBay's international operations, the rate of growth of the ecommerce market in Vietnam, the reaction of competitors to the agreement, and the possibility that the expected benefits of the commercial agreement with ChợĐiệnTử.vn may not materialize to the extent expected or at all. More information about potential factors that could impact eBay's business and financial results is included under the captions, "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations," in eBay's Annual Report on Form 10-K for the fiscal year ended December 31, 2007 and Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2008 which are on file with the U.S. Securities and Exchange Commission (the "SEC") and available at the SEC's website at www.sec.gov. All forward-looking statements are based on information available to eBay on the date hereof, and eBay assumes no obligation to update such statements. www.sec.gov. All forward-looking statements are based on information available to eBay on the date hereof, and eBay assumes no obligation to update such statements.

 
 
 

For more information, please contact either of the following:

For eBay:  

Eunice Lim

Nguyen Duc Hung

eBay Southeast Asia

VietGate Communications

Tel: +65 65104535

Tel: (84-4) 9428755

Email: eunlim@ebay.com

Email: hungnguyen@vietgate.com.vn

 

For ChoDienTu.vn:

Nguyen Thi Huong, PR Manager  
PeaceSoft Solutions Corporation  
Tel: (84-98) 2085993  
Email:huongnt@peacesoft.net,  
 
 

 

 

 

       

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