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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): JANUARY 7, 2001
eBAY Inc.
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(Exact name of registrant as specified in its charter)
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DELAWARE 000-24821 77-0430924
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(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation) File Number) Identification No.)
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2145 HAMILTON AVENUE
SAN JOSE, CA 95125
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(Address of principal executive offices)
(408) 558-7400
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(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS
On January 7, 2001, eBay Inc. (the "Company") issued a press release
announcing that it had signed an agreement to acquire a majority stake in
Internet Auction Co. Ltd., a Korean auction-style web site, which is filed
herewith as Exhibit 99.1 and incorporated herein by reference.
Risks Relating to the Internet Auction Co. Ltd. Transaction and the Korean and
Asian Economic Environment
The press release filed herewith as Exhibit 99.1 contains
forward-looking statements that involve risks and uncertainties. Actual results
could differ materially from those discussed. Factors that could cause or
contribute to such differences include, but are not limited to, the receipt and
timing of shareholder, governmental, and regulatory approvals for the
transaction, the possibility that the transaction will not close, the reaction
of the users and suppliers of each service to the transaction, the future growth
of the Internet Auction service and the reaction of competitors to the
transaction. Additional risk factors include the recent migration of Internet
Auction to a new technological platform, the reliance of the company on external
service providers, the need to coordinate strategy and resources between the two
companies, the acceptance of Internet Auction's newer businesses by its customer
base, as well as the contemplated integration of each company's accounting,
management information, human resource and other administrative systems to
permit effective management. Factors related to international expansion that
could cause or contribute to such differences include, but are not limited to,
foreign currency exchange rate and interest rate fluctuation, and regulatory,
political and economic conditions in Korea and other areas of Asia. Korea has
also been subject to increased economic instability in recent years due in part
to its reliance on export demand from developed countries, relatively high
levels of corporate insolvencies, restructurings and non-performing debt. In
addition, relations between South Korea and North Korea have been tense since
the end of the Korean War. Though relations between the countries have recently
improved, we cannot assure you as to whether or when this situation will be
resolved or change abruptly as a result of current or future events. More
information about risks related to this transaction is included in the Company's
Form 10-Q for the period ended September 30, 2000 under the headings "Risk
Factors-Acquisitions could result in dilution, operating difficulties and other
harmful consequences" and "Risk Factors-There are many risks associated with our
international operations."
Risks Relating to Possible California Power Outages
The state of California is currently experiencing a chronic shortage of
power and, as a result, power outages may occur. Repeated or lengthy power
outages would likely adversely affect the Company's business.
ITEM 7.
EXHIBIT NO. DESCRIPTION
99.1 Press Release dated January 7, 2001.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: January 12, 2001 EBAY INC.
By: /s/ Margaret C. Whitman
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Margaret C. Whitman
President, Chief Executive Officer
and Director
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EXHIBIT INDEX
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EXHIBIT NUMBER DESCRIPTION
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99.1 Press Release dated January 7, 2001.
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