With moving away from classified and listings businesses, Ebay agreed to sell its Rent.com business unit to PRIMEDIA, reports Reuters. Ebay bought up Rent.com back in 2004 for $400 million. The transaction is expected to close in the second quarter whereas deal terms and conditions were not disclosed. Rent.com is a leading online listing website for rental properties. The business will be added to several other rental websites already owned by PRIMEDIA, including ApartmentGuide.com, Rentals.com, RentalHouses.com and NewHomeGuide.com.
About I2Mag
I2Mag, an Internet & Design Inspiration Magazine having emphasis on empowering and inspiring people by spreading the waves of knowledge. I2Mag is an independent news source dedicated to covering start-ups, reviewing internet products, social media, digital culture and technology news.