eBay, Matrix to own Kijiji India

NEW DELHI, INDIA: eBay Inc. and Matrix Partners India has announced partnership in Kijiji India, the online local classifieds portal.

"We have been following the early success of Kijiji with small businesses and local communities with great interest and look forward to working with the start up team to scale its offerings and successfully grow the business," Avnish Bajaj, co-founder and managing director, Matrix Partners India.

Terms of agreement were not disclosed.

eBay Inc. does not expect this acquisition to have a material impact on its 2008 financial guidance issued in conjunction with its fourth quarter earnings release on January 23, 2008.