EBay buys Gumtree.com
Online auction site eBay has snapped up classifieds site Gumtree.com for an undisclosed sum.
The sale is a windfall for Michael Pennington and Simon Crookall, the two former bankers who founded the site five years ago.
Gumtree.com, which specialises in apartment rentals, jobs and goods, operates in international locations such as Canada, the Far East, Australia and New Zealand, as well as covering major UK cities including Glasgow, Cardiff and Birmingham.
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EBay's international classifieds group Kijiji has also bought Barcelona-based Loquo.com as part of a policy to expand its portfolio of international websites.
By Lucia Cockcroft
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