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eBay Reportedly Goes Shopping, Acquires Milo.com For $75 Million

December 2nd, 2010 12:34 admin Leave a comment Go to comments

According to The Business Insider, ecommerce juggernaut eBay is acquiring up-and-coming local shopping startup Milo.com for a reported $75 million.

We’re independently confirming the acquisition, but it would sure make a lot of sense.

The company’s mission is to track every product on every shelf of every (U.S.) store in real-time. It currently covers about 52,000 stores across the United States, delivering search results for some 3 million locally available products.

For eBay, it would be a chance to bridge online commerce with physical, in-store shopping, as Milo is really good at enabling people to find the best price and availability for products they want to buy immediately, offline.

Milo has raised roughly $5 million in venture capital from several early-stage investment firms and a slew of angel investors, including heavy hitters such as Keith Rabois, Kevin Hartz, Jawed Karim, Magid M. Abraham, Brian Pokorny, Aaron Patzer and Chris Dixon, among others.

Source: eBay Reportedly Goes Shopping, Acquires Milo.com For $75 Million

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