EBay today announced plans to purchase Rent.com, making its entrance into the online real estate category in a deal valued at approximately $415 million. Rent.com is an online listing service in the apartment and rental-housing category. The acquisition amount will be paid with approximately $385 million in eBay common stock and $30 million in cash. The purchase will enable eBay to expand into a new segment of the online real estate market while allowing Rent.com to continue to scale its business with the resources and expertise of eBay. "Rent.com has been extremely successful in the apartment rental space online and is a great match for eBay," said Bill Cobb, president, eBay North America. "Together we can strengthen both businesses and help consumers get the most out of real estate online." Santa Monica, Calif.-based Rent.com has grown rapidly to become the most visited apartment listing Web site in the nation, according to comScore MediaMetrix. With Rent.com's transaction-based b...
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