TWO IRISH-BASED subsidiaries of online giant eBay incurred combined losses of €22 million in 2007 in spite of the companies’ turnovers almost doubling to over €100 million.
According to accounts recently returned to the Companies Office, Dublin-based Kijiji International recorded a pre-tax loss of €5 million in 2007 after the company increased the size of its business by 78 per cent from €30 million to €54 million.
The company is engaged in developing websites that post local online classified adverts and is seen as a rival to Craigslist. At the end of 2007, Kijiji International Ltd had Kijiji local websites in 250 cities across the world.
In separate accounts recently filed by a second Dublin-based eBay subsidiary, Shopping Epinions International which operates a price comparison website, shopping.com, pre-tax losses increased by 7 per cent in 2007 to €17 million as turnover more than doubled to €48 million from €23 million. Shopping.com was purchased by eBay in June 2005. The accounts show that Shopping Epinions International Ltd has accumulated losses of €33 million and a deficit in shareholder funds of €8 million at the end of 2007.
The accounts show that the company received a capital injection of €24.5 million from its immediate parent, Shopping International Holding, in April 2007.
Over 1,000 people are employed by eBay in the Republic.
