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Yahoo! Inc. (Nasdaq:YHOO) and eBay Inc. (Nasdaq:EBAY) today announced a multi-year strategic partnership designed to mutually benefit both companies by better serving their user, merchant, and advertising communities in the U.S. The agreement consists of four major components in the areas of search and graphical advertising, online payments, a co-branded toolbar, and the opportunity to explore "click-to-call" functionality.
"Our consumers will benefit from the combination of Yahoo! and eBay's leading technology and services, providing them with one of the best online experiences," said Terry Semel, chairman and chief executive officer, Yahoo! Inc. "Yahoo! holds a leadership position in all forms of online advertising. This partnership with eBay provides us with a great opportunity to further extend our sponsored search and graphical advertising reach to one of the largest and most active communities on the Web."
It's big and we've been waiting for it. eBay has been flirting with Yahoo! for a long time.
<Edit>Added Press Release link - now online</Edit>
[edited by: trillianjedi at 1:14 pm (utc) on May 25, 2006]
Yahoo to be exclusive provider of ads on eBay site, while eBay's PayPal service to be exclusive provider for Yahoo's online wallet.
Shares of Internet media company Yahoo Inc. rose 3.7 percent and online auctioneer eBay extended early gains, advancing more than 6 percent before the opening bell on Thursday after the companies said they reached a multiyear advertising and commercial partnership.
Google is down 1.2%
From Reuters - Link [today.reuters.com]