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eBay Releases a Mobile App for Android and iOS Software

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Sep. 28 2015, Updated 12:07 p.m. ET

Overhaul of app to curtail slowing sales growth

On September 8, 2015, eBay (EBAY) announced the launch of its mobile application for devices that run on Google’s (GOOG) Android and Apple’s (AAPL) iOS software. The app is expected to be more user-friendly for buyers and sellers. One of the main reasons for the overhaul of its mobile app is to stem slowing sales growth and enhance users’ online buying and selling experience.

In 2014, eBay was hit with a cyberattack. It caused data breaches on eBay’s platform. As a result, Google (GOOG) demoted eBay’s listing in its search engine.

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Jet.com is one of the biggest e-commerce players 

On September 11, 2015, ChannelAdvisor published a report where it stated that Jet.com is currently the fourth largest e-commerce company in the US, behind Amazon (AMZN) and eBay. Jet.com could be ranked third by the end of 2016. The report stated that Jet.com’s repeat buyer rate stood at 23%. This is significantly higher than Amazon’s 11% and eBay’s 17%.

Marc Lore, Jet.com’s CEO, stated that the firm’s customer base is expected to rise to 15 million by 2020. By that time, the company is expected to deal in products with a GMV (gross merchandise value) of $20 billion. Jet.com has an annual subscription fee of $50. This is expected to help the firm become profitable by 2020.

You can get diversified exposure to eBay by investing in the PowerShares QQQ ETF (QQQ). This ETF held ~0.63% in the company on August 31, 2015.

You can get more diversified exposure to eBay by investing in the SPDR S&P 500 ETF (SPY). SPY held ~0.17% in the company on the same date.

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