By Sonya Rabbitte, 7 August 2001 14:33
NEWS Online auctioneer eBay has bought property website HomesDirect.com in a bid to break into the real estate market. HomesDirect sells repossessed property from the US Department of Housing and has been making a loss since it was snapped up last year by incubator firm Idealab. Despite its cash-strapped status the acquisition will boost an existing deal eBay has with another US property site ZipRealty.com Ebay has recently expanded its sales activities in an effort to meet $30bn revenue targets and $330bn transaction targets by 2005.
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