"I’m going to be very aggressive looking for opportunities to strengthen that portfolio, either organically or through acquisitions," said Donahoe, 49. "We have the financial strength and capacity to do a sizeable acquisition. When we see an opportunity that will really strengthen the portfolio, we’ll move."
EBay, whose shares have risen 70 percent this year, fell 24 cents to $23.76 at 4 p.m. New York time in Nasdaq Stock Market trading.
The Craigslist dispute became public after the site said eBay used its investment to steal confidential information, which helped eBay start a rival U.S. service called Kijiji. EBay denies that claim. Craigslist diluted eBay’s stake in the company to less than 25 percent, a move that eBay says was an unfair attempt to limit its power as an investor. That case is scheduled to begin Dec. 7.
EBay to Bolster Classifieds as Craigslist Trial Looms
(Bloomberg)—EBay Inc. (EBAY), facing a legal fight with Craigslist Inc., is talking to other sites around the world in a bid to get more revenue from classified listings.
Susan Best, a spokeswoman for San Francisco-based Craigslist,ugg on sale, declined to comment.
EBay, based in San Jose, California, has classifieds sites in more than 20 countries such as Denmark and the Netherlands. The company expects classified revenue to double between 2008 and 2011. As a Delaware court prepares to hear the Craigslist case next week, eBay is stepping up efforts to expand that business.