Montley Fool’s: Gmarket: The Better eBay
Source: Gmarket: The Better eBay 2/28/2008
At least one company means what it says in South Korea. I mention that only because I called out Gmarket rival eBay (Nasdaq: EBAY) last month for claiming that it’s gaining ground on Gmarket.
“We’re pleased about our performance in Korea, where we believe we’ve significantly narrowed the gap with our main competitor over the last three or four quarters,” eBay CFO Bob Swan noted during January’s conference call.
He pointed to the company’s 33% improvement in gross merchandise value (GMV) in South Korea during the quarter. However, Gmarket’s GMV climbed by 42% during the period. Even a mathematically mediocre kindergartner can tell you that the numbers imply a widening — not narrowing — gap
In this article, the author refers to his article from two weeks earlier ( Can We Take eBay Seriously ) :
http://www.fool.com/investing/general/2008/01/28/can-ebay-be-taken-seriously.aspx