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Technology Stocks : CMGI What is the latest news on this stock?
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To: country bob who wrote (18662)12/2/2000 8:19:43 AM
From: John Carragher  Read Replies (1) of 19700
 
s eBay Doing Some Bargain Shopping of Its
Own?

By Mark Veverka

Is eBay doing a little holiday discount shopping of its own? With auction
growth slowing and flailing dot.coms going for pennies on the dollar, the online
auctioneer has been scrambling for new ways to supplement its once-unbridled
development.

With eBay's stock in the tank along with the rest of the Nasdaq (plunging 70%
from its 52-week high of 127.50), it's not surprising to hear that San Jose,
California-based Internet darling is aggressively kicking the tires of other
electronic commerce and online auction companies. Barron's has learned that
eBay has been in discussions with uBid.com, a privately held unit of CMGI,
about a possible merger or buyout, people close to the two companies say. Ubid
is a business-to-consumer auctioneer that plans to formally launch a
consumer-to-consumer auction site next week that will compete with eBay.

Word is that uBid Chief Executive Greg Jones was in Palo Alto recently to
meet with representatives of eBay and partners of Benchmark Capital, the
early-stage venture capital firm that made billions for its investors by backing
eBay, these sources say.

A Benchmark spokeswoman would neither confirm nor deny that any talks with
uBid have taken place. While Benchmark has distributed returns from eBay,
certain partners still hold significant stakes in the company. Spokespersons for
CMGI and uBid wouldn't comment, and telephone calls to eBay were not
returned.
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