eBay Makes $1.2B Proposal for Korea's Gmarket

Korean online marketplace Gmarket has reacted warmly to eBay's $1.2 billion purchase offer. Pending the approval of all necessary parties, eBay will join Gmarket with its existing Korean site, Internet Auction Co. The two could make a good match -- Gmarket is directed mainly at a female audience, while IAC markets mostly to male buyers.