US-bred eBay no match for Asian markets

EBay has three strikes in Asian markets with this week's announcement that it will close its Chinese operations, hundreds of millions of dollars after it...

EBay has three strikes in Asian markets with this week's announcement that it will close its Chinese operations, hundreds of millions of dollars after it launched. eBay failed in China after being forced to close its Japan and Taiwan sites years ago. The online auction house will now partner with Beijing's Tom Online, which is expected to completely revamp the site and have it running in 2007.

Some speculate eBay was unsuccessful in Asia because of its lack of cultural knowledge. Taobao, a similar online site in China, launched in 2003 when eBay was dominating the Chinese market, and now has nearly 60 percent of the online commerce business there.

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