eBay loses head of local Jack AbrahamJanuary 28, 2013: 4:00 PM ET
A key departure for the surging e-commerce company.
FORTUNE -- This afternoon, eBay announced that its head of local, Jack Abraham, is leaving. According to the company, he will retain an advisory role on areas like shopping innovation.
Abraham's departure comes more than two years since his startup Milo was acquired by eBay (EBAY) for $75 million. At the time, the startup developed technology that listed in-store product inventory from retailers like Target (TGT), Macy's (M), and Best Buy (BBY). CEO John Donahoe acquired Milo, both for the technology and Abraham, as part of his mission to rehabilitate the flagging eBay, which was in the midst of a turnaround. (Indeed, Abraham received his fair share of press at the time.) Milo's technology has since been integrated across the company's mobile apps, which have been downloaded over 100 million times by users.
"When I founded Milo we set out on this big mission," Abraham told Fortune. "I didn't intend to actually sell the company. But there was just great alignment with eBay." During his time at eBay, the Milo team doubled. As products rolled out, Abraham felt his role become less and less necessary.
Abraham spearheaded some of the tech company's newer features, including the Pinterest-like news feed introduced late last fall amid a sweeping redesign to the e-commerce site. The feed, apparently, was an idea Abraham had been kicking around during his Milo days but only got around to implementing at eBay. It was also Abraham's idea to develop eBay Now, the mobile app available in New York and San Francisco, which lets users order products from retailers like Target and Macy's and receive them in an hour or less.
"Jack brought an entrepreneurial mindset to eBay and built a strong team focused on redefining how consumers shop and retailers engage their customers locally," Dane Glasgow, VP, Mobile and Local, eBay Marketplaces, said in a statement. "The opportunities ahead for eBay are enormous and we appreciate Jack's contributions. We wish him great success with his new venture."
Abraham remains coy on what his new venture will be, other than to say it's an idea that's been hounding him for years and will be a huge digression from his work at eBay. A replacement for Abraham has not been announced.