eBay buys The Gifts Project for $20 million

The Israeli start-up developed a system that facilitates the group purchase of gifts.

eBay is buying Israeli startup The Gifts Project for over $20 million. The Israeli firm will become an eBay development center in Israel, and will form eBay’s Israel Social Center and focus on building social shopping platforms and product features for eBay Marketplaces, said the Gifts Project.

The firm has developed a system that facilitates the group purchase of gifts. The application allows a number of people to join together to purchase a gift for a friend, or chip in a part of the price. It allows people to type in friends’ names and link them to a specific event, such as a birthday, via the person’s Facebook page – and then invite others to join in buying the gift – on eBay.

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2011-09-09T11:57:58+00:00September 9th, 2011|Uncategorized|0 Comments