Ebay has invested $2m in the
Meetup social networking site, according to
a filing with the Securities and Exchange
Commission.
Meetup offers a platform to accommodate meetings for people with common
interests ranging from hiking to political campaigning.
Founded in 2002, the service boasts nearly 2m registered users. Meetup's
business model is based on charging event organisers a fee ranging from $12 to
$19 per month for listings and services.
Ebay said that both companies have a shared interest in using the internet to
connect people and create communities. The company pointed out that there are
several Meetups for eBay users.
The auction website's move was part of an investment round last month in
which a group of investors acquired a 10 per cent stake in the company for an
undisclosed sum.
Ebay typically does not disclose such investments, but in this case it choose
to do so because Meetup is partially owned by Ebay founder and chairman Pierre
Omidyar. The auction site stressed in its filing that these private business
relations did not affect the terms of the deal.
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