eBay Inc (EBAY) Joins Apple, Google, Facebook And Amazon To Voice Its Opinion On Europe’s Digital Regulations
eBay Inc (NASDAQ:EBAY) is the latest major U.S. Internet company, with operations in Europe, to message its concerns about some regulation proposals being pursued in the region. The company says that it is part of the economic solution in Europe and not a problem at all. Scrutiny of U.S. technology companies has increased in Europe as competitors, and some politicians, express concern about foreign players that have become too powerful in the market.
In a survey result released this week, eBay Inc (NASDAQ:EBAY) cites how it is helping European small business to grow domestically and abroad. The company further says that small businesses that use its platform to make sales are more successful and likely to survive adverse economic situations than those that don’t.
$20.2 billion transacted in four years
The eBay study revealed that over the period of four years, from 2011, more than 130,000 small businesses in Europe that joined the platform have been able to sell goods worth EUR18.5 billion or $20.22 billion.
The one particular area that eBay is helping small businesses a lot is the kind of distribution and technology that it avails to them for the export businesses. It says that what its marketplace offers is something that small businesses in the region cannot build on their own, which explains its special position in promoting European economic growth.
The likes of Amazon.com, Inc. (NASDAQ:AMZN) and Google Inc (NASDAQ:GOOGL) have also issued figures to support their usefulness as drivers of economic growth in Europe. Others that are also trying to tout their relevance in the region include Facebook Inc (NASDAQ:FB) and Apple Inc. (NASDAQ:AAPL).
Go slow on platform neutrality
European regulators are proposing regulations that could alter the business landscape for many U.S. technology superpowers. Some of the proposed changes have to do with value-add tax reforms and what has come to be known as Platform Neutrality, where vendors can use ratings earned on eBay Inc (NASDAQ:EBAY) to sell their goods on rival platforms.
eBay’s European head of marketplace, Paul Todd, warned that the so-called Platform Neutrality could lead to more problems than solutions because it is a complex area.
Latest posts by Neha Gupta (see all)
- Is Facebook Inc (NASDAQ:FB) Winning Or Losing In Virtual Reality Space? - May 27, 2016 07:35 AM PST
- No Growth In Costco Wholesale Corporation (NASDAQ:COST)’s 3Q Comps Explained - May 27, 2016 07:34 AM PST
- How Will International Business Machines Corp. (NYSE:IBM)’s Big Data University Help? - May 27, 2016 07:33 AM PST