A sign is posted in front of eBay’s headquarters in San Jose, California.
Justin Sullivan | Getty Images
shares eBay Soared 12% on Wednesday Yuan said it would allow some listings to appear on Facebook Marketplace, its popular platform that connects consumers to pick up local items and more.
eBay stock reached its highest level since November 2021.
Meta said in a statement that the rollout will first be tested in Germany, France and the United States, and buyers will be able to view listings directly on Marketplace and complete the rest of the transaction on eBay. release.
Meta’s move was an attempt to appease the European Commission, the EU’s executive arm, after regulators fined the company 797 million euros ($821 million) in November for bundling its Marketplace product with the main Facebook app.
At the time, the commission said Meta’s tying of Marketplace to Facebook could mean rivals were effectively “excluded” given the platform’s distribution reach. Facebook has more than 3 billion users worldwide.
The commission also said Meta imposed “unfair trading conditions” on other online classifieds service providers that advertised on its platform, notably Facebook and Instagram. The conditions allow Meta to use data generated by other advertisers to benefit Marketplace, it added.
Meta appealed the ruling at the time, saying it “ignored the reality of the booming market for online classified listing services in Europe.”
“While we disagree with the European Commission’s decision on Facebook Marketplace and will continue to appeal, we are working quickly and constructively to develop solutions to address the issues raised,” the company said on Wednesday.
eBay did not immediately respond to a request for comment.
watch: Will Artificial Intelligence Stocks Go Higher in 2025? Nvidia investor shares his outlook
About The Author
