eBay Sells Rent.com to Primedia

eBay will sell Rent.com to Primedia, a resource for apartment and rental home information and listings. Rent.com launched nationally in October 2001, and eBay acquired the classified site in 2005 for approximately $415 million ($385 million in stock and $30 million in cash). eBay released a statement saying it was divesting itself of Rent.com "because it had limited synergies with our core businesses as we focus on enabling commerce for buyers and sellers globally through platforms, payments and technology."