Credit: Shutterstock photoE-commerce giant eBay Inc. ( EBAY ) recently entered into a partnership with artist Mario Wagner to create ART FOR ALL, an Interactive Art Installation in New York City. Mario Wagner will create a piece of art by incorporating numerous pictures from Instagram, crowd sourced from people The ART FOR ALL interactive installation was open to people in New York City from Nov 7 to Nov 9.
The move follows the launch of eBay's Live Auction Platform in collaboration with the online live auctions marketplace, Invaluable, last month to make traditional brick-and-mortar auction houses available for global online shoppers. This new platform would enable online browsing and purchase of art and collectibles and therefore provide access to a much larger audience.
Customers will be able to preview catalogs for forthcoming sales and then bid at the online events. These auctions would be done on a new site at eBay and will also be available through eBay's search engine.
eBay is one of the largest online retailers in the world, and is well positioned to take advantage of the changing ways in which consumers shop. We believe the latest move will enable the company to broaden its customer base, expand in new markets worldwide and boost its top- and bottom-line performances.
These strategic moves are important for eBay as the company splits itself in two, spinning off its PayPal payments unit next year.
The digital payment arm, PayPal, was acquired by eBay in 2002 for $1.5 billion. Since then, it has become the giant marketplace's engine for growth and the actual reason for investors to hold shares of eBay.
As more and more customers prefer online shopping nowadays, the use of this online payment service has increased. Thus, PayPal accounts for a large percentage of eBay's total revenue. Additionally, it along with fulfillment services, enables eBay to provide a complete solution to retailers, whether brick-and-mortar or online. The unit thus drives eBay's share value.
eBay currently holds a Zacks Rank #3 (Hold). However, some better-ranked stocks in the technology sector include Mercadolibre, Inc. ( MELI ) and zulily, Inc. ( ZU ), both carrying a Zacks Rank #1 (Strong Buy) and Autobytel Inc. ( ABTL ), holding a Zacks Rank #2 (Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
