“The worst deal ever in Chinese history”?

by Sue Bailey

This post was written in December 2006; specific information contained within it may be out of date.

The source of recent rumours about eBay’s activities in China has been quoted as “an insider”. Now the email sent by that insider, allegedly an eBay Eachnet employee, has apparently been published.

EBay now abandons China and us, the loyal workers.
I am one of the many disgruntled Eachnet employee. I have suffered through the incompetence of Ebay leaders for many years. I admit I am greedy. I stay for money. But Ebay has screwed up our Company and in China.

Meg Whitman is Ebay Mao Zedong. No one dare tell her the truth. … This deal will just put her down in history as China’s worst businesswoman ever.

Copies of press releases alleged to be for release this week follow, giving details of a 49:51 deal with Tom Group to develop the Chinese auction site, and of Paypal’s 33% stake in a new payments venture with UMPay, a leader in mobile payments in China.

Even The Wall Street Journal is now reporting this story; here’s a more accessible and upbeat version from AP; it’s going to be an interesting week, one way or another.

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Author: Sue Bailey
Posted at: Monday, December 18th, 2006 at 10:42 pm
Filed Under Uncategorized
 

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Comments

One Response to ““The worst deal ever in Chinese history”?”

  1. eBay Thailand to launch this year : TameBay on May 28th, 2007 9:06 am

    [...] eBay have had mixed results with moves into new territories, 2006 saw eBay shut down it’s Chinese eBay Eachnet website to be replaced by one run by local partner Tom Group. It looks like lessons have been learnt and partnering with a local established Internet presence in Thailand should ensure a faster takeup of the site. [...]

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