eBay to acquire RueLaLa parent
HTT Staff -- Home & Textiles Today, 4/5/2011 3:34:08 PM
San Jose, Calif. - eBay plans to acquire ecommerce and interactive services provider GSI Commerce for about $2.4 billion, financing the deal with cash and debt.
GSI is parent to online private sale retailer RueLaLa.com as well as ShopRunner.com, a members-only shopping service that offers free two-day shipping and free shipping on returns for a $79 annual subscription.
"We intend to lead the next generation of commerce innovation," said John Donahoe, eBay president and ceo, who added GSI would "significantly strengthen our ability to connect buyers and sellers worldwide."