eBay Will Acquire Cox Automotive Media For Australian Auto Marketplace

In just a few clicks, you can buy clothes, shoes, mattresses, groceries and pretty much anything else you can think of from the comfort of your home.

But cars are still one of the few things that most people prefer to buy in person. The idea of buying something as substantial (in size and price) as a vehicle online probably gives most people anxiety, but the reality is that the car-buying process has come a long way. Either stumbling upon a nice used car with a for sale sign on it or shopping at used car lots with overzealous salesmen were once the only options, but the internet has opened up more avenues.

The problems with buying cars on eBay Motors is that many vehicles you see on eBay are considered “Too good to be true” listings that many times are posted by offshore scammers stealing VIN numbers and photos for second chance offers in order to get you to wire money for a deposit. Don’t take the bait, and don’t get scammed.

  • EBay said it has agreed to acquire Cox Automotive Media Solutions for an undisclosed sum.
  • Cox operates a large automotive information site and a newer online marketplace in Australia.
  • EBay is acquiring the firm as part of a deeper ‘verticalization strategy’ within the automotive segment.
  • However, EBAY to stock appears fully valued at its current level; given its relatively low revenue growth profile, my bias is NEUTRAL.
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eBay (EBAY) has announced the proposed acquisition of Cox Automotive Media Solutions for an undisclosed amount.

Cox Automotive has developed two car-oriented websites for the Australia automotive information and purchase marketplace.

With the deal, EBAY seeks to continue its ‘verticalization strategy’ within the automotive vertical.

Based on generous DCF terms, the stock appears fully valued at its current level, so my bias is NEUTRAL.

Australia-based Cox Automotive was founded to create CarsGuide.com, which is a substantial automotive review and editorial website.In addition, the firm has more recently launched Autotrader.com.au, which is an online marketplace that provides services for car dealers and enables car buyers to shop for deals online.

Management is headed by Chief Executive Officer Shaun Cornelius, who has been with the firm since October 2018 and was previously CEO at Hey You App and a non-executive director at Skuvantage.

Cox Automotive CEO Sandy Schwartz: