¶ … Closure
Yahoo! Concedes Australias Online Auction to Ebay
The article this paper will review, in relation to project closure and I.T. management, is Keith Regan's Yahoo! Concedes Down-Under Auction Market to Ebay.
Recently, Yahoo! announced to its customers its decision of closing down the Australian online auction site sold.com.au. The announcement was posted in the auction site itself (currently, the auction site is already owned by Ebay). Yahoo! handed down sold.com.au to its auction giant rival Ebay.
Yahoo! bought sold.com.au two years ago from Fairfax at the price of AU$24 milllion. That time, the auction site was making a sale profit of AU$12 milllion. However, for Yahoo!, Australia's online auction was not able to establish more customers and did not give the dot-com giant enough profit. Sold.com.au's performance in the Internet auction market seemed to be far from Down Under's achievements, an online information portal in which Yahoo! remains a giant and maintains good customer feedbacks.
Buying Australia's online auction from Fairfax was certainly a management move taken by Yahoo! two years ago to dominate the Australian online market. The site was making good business profits from its customers then. Yahoo! perhaps saw that being able to own the online auction of Australia is a business move that would provide them better company revenues and more online...
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