eBay has sold off one of its properties today, real estate listings site Rent.com. The buyer is Primedia, which helps people find apartments, houses for rent or new homes for sale through websites, mobile and print publications. Financial terms of the transaction were not disclosed.
eBay originally bought Rent.com for $415 million in 2004. At the time, Rent.com fit in with eBay’s classifieds and listings business. Obviously, as the company as shifted towards a focus on e-commerce; classifieds, and real estate listings in particular, are no longer of major interest to eBay. Rent.com also partnered with eBay to help build a new shipping platform for eBay Motors.
Rent.com will be added to Primedia’s other apartment and rental home resources, which include the web properties ApartmentGuide.com, Rentals.com and RentalHouses.com. Primedia was actually just acquired by private investment firm TPG Capital for $525 million last year.
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...