Deal brings new, 'Secure by Design' digital ID
technology, authentication to eBay fashion category, expanding
opportunities in the circular economy
SAN
JOSE, Calif., July 11,
2023 /PRNewswire/ -- eBay Inc. (Nasdaq: EBAY), a
global commerce leader that connects millions of sellers and buyers
around the world, today announced it has completed its acquisition
of Certilogo, a provider of AI-powered apparel and fashion goods
digital IDs and authentication.
Based in Milan, Certilogo
leverages digital technology to empower brands and designers to
manage the lifecycle of their garments, while providing consumers a
seamless way to engage with their favorite brands and fashion
items, access reliable product information, confirm authenticity
and easily activate circular services. Certilogo will continue to
be led by CEO Michele Casucci.
"We are excited to welcome the talented Certilogo team to eBay,
as they bring their passion and cutting-edge technology to our
community of fashion enthusiasts," said Charis Marquez, VP, eBay. "Through this
acquisition, eBay will be able to offer brands secure, connected
product solutions that are both flexible and compatible. Brands
will also be able to protect their customers from counterfeits and
engage in recommerce through counterfeit-proof digital product
passports."
"The partnership between Certilogo and eBay will unlock
opportunities for consumers and brands to connect, opening up new
potential to activate and expand engagement with the circular
economy," said Michele Casucci, CEO
and Founder, Certilogo. "Our team is ready to get right to work
incorporating our technology and infrastructure and ensuring a
seamless transition for our customers, brand partners, and the
entire eBay community towards a more sustainable, connected
future."
Details on the Transaction
eBay has acquired Certilogo
as of July 11, 2023. Further details
were not disclosed.
About eBay
eBay Inc. (Nasdaq: EBAY) is a global
commerce leader that connects millions of buyers and sellers in
more than 190 markets around the world. We exist to enable economic
opportunity for individuals, entrepreneurs, businesses and
organizations of all sizes. Founded in 1995 in San Jose, California, eBay is one of the
world's largest and most vibrant marketplaces for discovering great
value and unique selection. In 2022, eBay enabled nearly
$74 billion of gross merchandise
volume. For more information about the company and its global
portfolio of online brands, visit www.ebayinc.com.
Forward-Looking Statements
Certain statements herein
are "forward-looking statements" within the meaning of Section 27A
of the Securities Act of 1933, as amended, and Section 21E of the
Exchange Act. Such forward-looking statements are often identified
by words such as "anticipate," "approximate," "believe," "commit,"
"continue," "could," "estimate," "expect," "hope," "intend," "may,"
"outlook," "plan," "project," "potential," "should," "would,"
"will" and other similar words or expressions. Such forward-looking
statements reflect eBay's current expectations or beliefs
concerning future events and actual events may differ materially
from historical results or current expectations. The reader is
cautioned not to place undue reliance on these forward-looking
statements, which are not a guarantee of future performance and are
subject to a number of uncertainties, risks, assumptions and other
factors, many of which are outside the control of eBay. The
forward-looking statements in this document address a variety of
subjects including, for example, the potential benefits of the
acquisition, including preventing listings of counterfeits, unsafe
products and illegal items. The following factors, among others,
could cause actual results to differ materially from those
described in these forward-looking statements: the possibility that
eBay may not fully realize the projected benefits of the
acquisition and business disruption following the transaction. In
addition, actual results are subject to other risks and
uncertainties that relate more broadly to eBay's overall business,
including those more fully described in eBay's filings with the
Securities and Exchange Commission, including its annual report on
Form 10-K for the fiscal year ended December
31, 2022 and subsequent quarterly reports on Form 10-Q. The
forward-looking statements in this document speak only as of this
date. We undertake no obligation to revise or update publicly any
forward-looking statement, except as required by law.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/ebay-acquires-certilogo-301874120.html
SOURCE eBay Inc.