Wishing you all a very Happy and Prosperous New Year! I hope you have got off to a great start in 2008.

At the outset I'd like to thank all our users for their passion for buying and selling on eBay and helping us to continue the zeal of launching features and product changes to improve the user experience.

I'd like to take this opportunity to revisit a few of our key achievements in 2007.

2007 was an excellent year for eBay India wherein, thanks to your support and co-operation, we made significant progress in improving user experience, strengthening trust in the marketplace and focusing on customer service. During the course of the year, we :

• Introduced insertion fee which helped us improve the findability of listings and thereby improve the success rate for our sellers
• In July 2007, we introduced a simplified buying flow for Fixed Price items and introduced a Shopping Cart.
• eBay Gift Vouchers - an important marketing lever and a persistent suggestion from our seller community was introduced in September 2007.
• Throughout the year our Customer Service department's consistent effort was on improving customer experience and providing better support. Launch of PaisaPay phone support in July'07 was a step in this direction.
• We undertook Trust & Safety initiatives (e.g. Vetting new sellers and tele-calling buyers who have not paid after placing an order) to provide more safety for our buyers and increase buyer fulfillment.
• Introduced offline marketing programs including advertising on television in the months of Nov & Dec '07 to increase eBay brand awareness & we should see more of that in the coming year.
• We rounded off the year in December 2007 with the launch of New PaisaPay which brought about several enhancements to PaisaPay including EMI benefiting both buyers and sellers.

These have been some of our biggest milestones in '07 and without the support and enthusiasm of our community (sellers and buyers), this wouldn't have been possible. Having said all of the above, I also know that there are lot of things we still need to do to deliver on a seamless experience for our buyers and sellers and accelerate business growth, which will be the focus for us going in to 2008.

I'd like to take this opportunity to share the priorities for 2008 I've set out for our team in January this year:

• Maintain leadership and position eBay India as THE place to “find & buy” the widest range of products at great prices'

• Continue acquiring new buyers efficiently and deliver a great buying experience towards increasing buyer loyalty & repeat buying

• Improve seller experience and economics of selling on eBay

• Continue to invest in making PaisaPay a best in class product

• Grow cross-border trade

All the initiatives that we plan to undertake in 2008 will be towards meeting the above laid out priorities and some of the key ones which we want to focus in the 1 st half of 2008 are :

• Attractive merchandising and promotion strategy to ensure that we deliver a great experience to our Buyers
• Leverage our new features to improve buyer retention & loyalty
• Redouble our supply acquisition & seller development efforts in ensuring that our buyers have a wide range of products at great prices
• Enhance PaisaPay by incorporating various suggestions for improvement received from the Community
• With the launch of General Phone Support for all users in Jan 2008 our customer services efforts will work towards providing customer delight
• Continue our efforts to grow Cross Border Trade

Our community has always been our most vocal supporter and our strongest critic. I'd like to take this opportunity to thank you for support in the last few years and look forward to your continued support in 2008. I'll be happy to discuss the same with you in the Open House discussion . You can post your question in advance on this thread , or join me on Thursday, the February, 07 2008 at 5 PM for a live discussion.

See you on February, 07 2008 at 5:00 PM!

Sincerely,

Rajan Mehra
Country Manager - eBay India