The Menlo Park, California tech-focused private equity firm Elevation Partners hired a former eBay executive as a managing director at the firm. Rajiv Dutta, formerly president of eBay Marketplaces and executive vice president of eBay, will pursue technology-related opportunities in transformational businesses.

In discussing recent changes to the industry, Dutta told Mergers & Acquisitions, “The e-commerce industry has not been untouched, but there are still enormous opportunities.”

Wile working at eBay, Dutta worked with Fred Anderson, a managing director and co-founder of Elevation. Anderson is a board member at the San Jose, California-based online marketplace. Dutta said the former Apple chief financial officer has been a “terrific mentor and a great friend.”

Dutta also told this publication, “Telephony, gaming, and social networks have touched many business and industries, and in the process has created both destruction and opportunity.”

In November, Elevation portfolio company Forbes Media acquired FlipGloss Media, a digital glossy insert photo publishing company. Elevation co-founder Roger McNamee led the firm’s plan to buy a 40% stake in Forbes Media about three years ago, resigned from the Forbes board in May, and was replaced by Elevation's Bret Pearlman.

The tech and consumer focused investment firm made several acquisitions toward the end of 2007, to mixed results. In June 2007, Palm sold a 25 percent stake in the company to Elevation. The firm acquired SDI Media Group, a subtitle and language dubbing company, from Warburg Pincus in the following month.

A previous Elevation co-founder and managing partner, John S. Riccitiello, exited the firm in April 2007 to serve as chief executive officer of Electronic Arts, Inc. He replaced Larry Probst at the company. Later, Elevation sold BioWare Corp. and Pandemic Studios to the Redwood City, California video gaming behemoth, in October 2007.

As of press time, eBay stock traded at $23.62 per share. Elevation was unable to be reach for comment by press time.