Tuesday, June 22, 2004

eBay likely to buy out Baazee.com

The morning paper today had this as the headline story...
This Headline news in todays newspaper doesnt come as a shock to me and many like me.Baazee s business model in India has always been to just copy what ebay has been doing...ofcourse they surely put some local flavour into the whole thing.
However if Ebay India has to suceed and make profits unlike Baazee , they need to get all the technology , features , frills and chills of Ebay USA on Ebay India.
They also need to find someway , in which Indian sellers can sel their products and services directly on Ebay USA ( which has 100000 times more business ) , not that Indian sellers cant do this right now. The problem arises in them not getting facilities to have funds transferred to their local Indian bank accounts and not having a clear strategy on how to partner with Logistics companies like DHL , FedEX.
If these 2 issues are resolved , I have no doubt in my mind that Ebay India will be a big success and make profits unlike Baazee......
eBay likely to buy out Baazee.com - The Economic Times

8 comments:

Anonymous said...

CA is not equivalent to CPA. An Indian CA cannot practice in US but a person who has done CPA can practice in India......Sameer

Anonymous said...

That was something I was wondering. I have in practice since last 15 years as a CPA......Thomaz Britz

Anonymous said...

In India, people are still afraid to use credit cards online especially when one comes to know ab't various frauds and multiple billings.

I Bazee had been that good than why are they selling out.

Anonymous said...

CA and BCA(Pursuing....or couldnt complete...whatever).... Do u know what CPA is???? Good to hear u read the paper every day but pleae do not get shoked at every small happening in the world... but thanks for the expert comments on the deal...it has realy OPENED MY EYES...U ROCK MAN

Mohit Maheshwari said...

Hi Sameer and Thomas ,
A CPA "cannot " practise in India as a Chartered Account.
A CPA in India cannot audit accounts and sign on Indian Government and tax bodies certificates and other documentation.
A CPA in India cannot file Tax returns of Indian Nationals.

Similarly , an India CA cannot do any of the above in USA .
An Indian CA can however acquire a CPA degree ( the fundamentals of accounts , commerce , economis etc) are the same and then practise as a CPA in USA and vice versa.

When I say CA is equivalent of CPA in USA , I am comparing an accountants degree in these 2 countries.
In India a public accountant is called CA and in USA he is called CPA.

Hope this clarifies...

Mohit Maheshwari said...

Dear Anonymous
I said " I didnt get shocked " on hearing on the deal.
Also its nice to see you appreciating my comments on the deal.
In my blog , its my effort to post my thoughts , views on events , ideas and things which interest me .
I would make an honest effort to try and post as much interesting information as possible on the blog.
However " relevant " can be a vague terms..whats relevant to me , might NOT be relevant to you....

Though sometimes things which might NOT seem relevant in the beginning , can have a huge impact on us , in days to come....
Many thanks..
Mohit

Mohit Maheshwari said...

Dear Anonymous
Baazee are good ,thats why a renowned company like Ebay has shown interest in them and have forked out $50 million to buy them out.
This re-iterates what Ebay " a pioneer" thinks of the efforts of Baazee.
From what I understand , I think the top management and core of Baazee will remain the same. What new will come , will be ADD ons of Know how , technology ,scale of operations and being part of a bigger global league..( being a company in the Ebay umbrella ) and many other things..( I will need another articles to explain my view on this )

Thanks
Mohit

Mohit Maheshwari said...

Hi Anonymous
As opposed to the common theory that " Indians are scared of using Credit cards online " , I will personally vouch from my experience in this industry for the fact that Indians are "as much scared to use credit card online" as " any other "regular web surfer " is ...

An average Indians net surfer in not different from an average Web surfer..
The scardness of online transactions is faced by "ALL OF US " in general..

I had an american client some 6 months back , who hadnt used a credit card online and was very pessimistic of using it..
It took me a full 2 hour chat to convince him to use it online.
I face these issues in my regular work with clients and customers from all over the world and NOT just India.

Though the No. of net users in India need to increase tremendously, but thats another issue and I will keep my thoughts on that for another article...

Love Mohit