While offline Ireland is feeling the pinch of the economy slow down, the online world is bucking the trend – Luzern Solutions, one of the biggest sellers on eBay, will use the funds to accelerate its growth and expand its online operation in Europe and America.
Commenting on the investment, Eamonn Galvin from eBay said: "This is a great example of how a local Irish business can utilise the 248 million worldwide registered eBay members to build an international business. We also recently saw the Collinson brothers from Limerick tap into this opportunity when they sold their eBay technology based business for in excess of EUR3 million."
The Dublin based company, led by CEO Ken Doyle accepts product returns for major technology companies such as Epson, Fijitsu Siemens, Philips, Creative and Palm. The company repairs or refurbishes these products which are then sold on to consumers through online sites like eBay.ie.
Online sites like eBay are ideal for companies like Luzern Solutions. eBay assists third party selling by enabling companies by attracting millions of customers worldwide and facilitating the ability to trade in several languages.