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

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 and trying to get details of the transaction, but the deal would certainly make a lot of sense.

Update: founder and CEO Jack Abraham tells me he won’t comment on rumor or speculation. Which of course doesn’t mean anything.

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.

Crunchbase

• MILO
• EBAY

Company: Milo

Website: milo.com

Launch Date: 2008

Funding: $4.95M

Milo.com is a free Web site that enables shoppers to research products online and buy local, providing the best of both worlds. The leader in the local product search space, Milo.com tracks the real-time availability and prices of more than 2 million products at over 48,000 stores across the U.S. By combining the resources of the Web and the immediacy of local stores, Milo.com makes it easy for shoppers to research the best products, find the right prices and...

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Company: eBay

Website: ebay.com

Launch Date: September 1, 1995

IPO: February 10, 1998, NASDAQ:EBAY

Founded in 1995 in San Jose, CA, eBay connects millions of buyers and sellers globally in the world’s largest online marketplace, utilizing PayPal to ensure secure transactions. The company also operates specialized marketplaces such as StubHub, the world’s largest ticket marketplace, and eBay Classifieds sites, which together have a presence in more than 1,000 cities around the world. eBay items can be sold either via a silent auction, in which users input the maximum price they are willing to...

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