The ratings on San Jose, Calif.-based eBay Inc. reflect its well-established brands in Internet e-commerce and payment segments, coupled with strong discretionary cash flow generation and ample liquidity. A maturing auction business, an evolving Internet marketplace with brick-and-mortar retailers becoming more competitive, and a growth strategy that includes ongoing acquisitions somewhat mitigate those factors. Founded in 1995, eBay grew revenues 2% to about $8.7 billion in 2009. The company is a leading worldwide provider of online marketplaces and online-payments services. While barriers to entry are low, Standard & Poor's Ratings Services believes that a large user base (registered buyers and sellers), a global platform, and eBay's value proposition (selection, value, entertainment, and convenience) all protect the company's market position in...
Companies mentioned in this report are:
- eBay Inc.
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