The deal builds on eBay's offerings in the
trading cards category and brings even more selection to
JOSE, Calif. and SYRACUSE,
N.Y., Aug. 22, 2022 /PRNewswire/ -- eBay Inc.
(Nasdaq: EBAY), a global commerce leader that connects millions of
buyers and sellers around the world, and TCGplayer, a trusted
marketplace for collectible card game enthusiasts, today announced
they have entered into an agreement for eBay to acquire
Trading cards are an attractive category, which has seen
substantial growth. TCGplayer is a leading technology platform for
the collectibles industry, and will continue to operate
autonomously as one of the largest online marketplaces for trading
card games. This acquisition complements eBay's focus category
strategy and furthers the company's commitment to trading card
enthusiasts – providing eBay with strategic omnichannel
capabilities like order fulfillment and cart optimization,
maintaining its position as a desirable platform for trading card
sellers, and enhancing the overall experience for all
"eBay continues to build on our 26 years of experience in
trading cards, powering local hobby stores and Main Street
retailers to deliver an online destination that collectors love,"
said Dawn Block, VP of Collectibles
at eBay. "eBay has always fueled our customers' passion in this
space and facilitated connections between buyers and sellers, and
with TCGplayer, we can enhance the customer experience across
categories, forge even more relationships, and cater to enthusiasts
around the world."
"This new chapter allows us to continue operating independently
within eBay, while also benefiting from their decades of industry
experience and resources to deepen the connection between hobbyists
and their communities," said Chedy Hampson, Founder and CEO of
TCGplayer. "With eBay's support, we will advance our Purpose, and
expand our tools and services to improve the collecting experience
online and in your favorite local hobby store."
TCGplayer has grown from its initial roots working with
Syracuse-based hobby stores into
an expansive ecommerce platform. The Company develops applications,
inventory management tools and hardware like robotic sorting
machines that are revolutionizing the collectibles industry,
connecting thousands of hobby stores and online sellers with
customers and collectors around the globe. TCGplayer has made
strategic investments in its team, technology and products, and
growing demand in a strong hobby collectible industry. Today,
TCGplayer employs more than 600 team members, serving millions of
hobbyist buyers, and tens of thousands of online sellers and
brick-and-mortar retailers through the TCGplayer Marketplace and
its Authentication Center.
Over the past two years, eBay has introduced significant
products and enhancements that are important for buyers and sellers
in the trading cards and collectibles category. With recent
launches like eBay vault, the company is delivering a more seamless
experience – offering benefits like instant transfer,
authentication, insurance, affordable shipping and a tax-free
storage location – and giving collectors peace of mind and
unprecedented control over their assets.
Details on the
eBay will acquire TCGplayer for a total deal value of up to
approximately $295 million. The deal
is subject to customary closing conditions, including requisite
regulatory approvals, and is expected to close in Q1 2023.
Evercore is acting as exclusive financial advisor and Cooley LLP
is acting as legal counsel to TCGplayer in the transaction.
Freshfields Bruckhaus Deringer LLP is acting as legal counsel to
eBay Inc. (Nasdaq: EBAY) is a global commerce leader that
connects people and builds communities to create economic
opportunity for all. Our technology empowers millions of buyers and
sellers in more than 190 markets around the world, providing
everyone the opportunity to grow and thrive. 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 2021, eBay enabled
over $87 billion of gross merchandise
volume. For more information about the company and its global
portfolio of online brands, visit www.ebayinc.com.
TCGplayer is a leading technology platform for the collectibles
industry. Founded as a digital media company specializing in
trading card games within the collectibles space, TCGplayer has
grown from its initial roots working with Syracuse-based hobby stores into an expansive
ecommerce platform. The Company develops applications, data
management tools and technologies like robotics automation that are
beneficial to buyers and sellers in the collectibles industry,
connecting thousands of hobby stores and online sellers with
customers and collectors around the globe. A purpose-driven
company, TCGplayer prides itself on creating a culture that fosters
camaraderie, embraces diversity and exudes passion. It has been
ranked among New York State's 50
best employers, Fortune.com's top 100 companies for women in the
U.S. and certified a Great Place to Work by its employees. To learn
more about TCGplayer visit https://careers.tcgplayer.com/.
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 maintaining
eBay's position in the trading cards category and enhancing the
overall experience for customers. 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, 2021 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.
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SOURCE eBay Inc.