eBay is acquiring local shopping site Milo.com, we've learned from two sources. EBay paid $75 million cash.
Milo.com is a shopping search engine that lets you find out what's in stock at local stores.
How does Milo fit with eBay? eBay owns shopping.com, so it's a nice fit.
Beyond that, it plays in the same sandbox as Groupon, which Google is about to buy for $6 billion.
Anything that allows small retailers to market online without having to build a Web site or make any cash outlays is hot in e-commerce these days.
There's also some possible synergy with eBay's Red Laser mobile app, which allows people to take pictures of bar codes and get price comparisons.
Milo CEO Jack Abraham is only 24 years old.
The company has an impressive list of investors including Keith Rabois, Ron Conway, Chris Dixon, Aydin Senkut, Aaron Patzer, and Jawed Krim, as well as many others.
Update: Milo confirms the acquisition on its blog.
