GoTo.com Completes Acquisition of AuctionRover.com
Thu. May 4, 2000 12:00 AM by Business Wire
The deal was first announced on March 9, 2000, for 3.47 million GoTo shares. The purchase will allow GoTo to carry listings of more than 100 other major auction sites such as eBay, Yahoo! Auctions and Amazon Auctions. AuctionRover was the first auction site licensed to search eBay and display eBay listings on its search results.
The acquisition of AuctionRover.com represents a further expansion of the GoTo.com search offering and an extension of its unique business model. With the addition of shopping and auction search capabilities, GoTo offers its partners the most comprehensive set of tools with which their users can find the most relevant products and services across the Internet. GoTo's advertisers and merchants will be able to place search listings within GoTo's search results, place product shopping listings within GoTo shopping through Cadabra, and place products and services into the auction channel through AuctionRover, which will be renamed GoTo Auctions.
"AuctionRover is a natural extension to our marketplace," said Ted Meisel, GoTo.com's Chief Executive Officer. "The completion of this acquisition represents another valuable service - auctions - that we will provide to our affiliate partners."
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