Certilogo's AI-powered tool authenticates,
unlocks wealth of information about apparel and brands
SAN
JOSE, Calif., May 17, 2023
/PRNewswire/ -- eBay Inc. (Nasdaq: EBAY), a global commerce leader
that connects millions of sellers and buyers around the world, and
Certilogo, a provider of AI-powered apparel and fashion goods
digital IDs and authentication, today announced that eBay has
signed a definitive agreement to acquire Certilogo. Certilogo's
platform uses digital technology to empower brands and designers to
manage the lifecycle of their garments, while providing consumers a
seamless way to confirm authenticity, access reliable information
about branded items, and easily activate circular
services.
This acquisition further solidifies eBay as a trusted
destination to shop for pre-loved apparel and fashion, and marks a
key investment in the growing pre-loved fashion category. It also
provides customers with more confidence as they increasingly make
more sustainably conscious purchase choices.
"For many years, consumers have turned to eBay as a trusted
destination for buying and selling pre-loved apparel and fashion
goods, not only because of the unmatched selection, but because of
our commitment to utilizing the latest technology to empower our
sellers and buyers," said Charis
Marquez, VP, eBay. "Certilogo's technology and talented team
allows eBay to build on this commitment, establishing eBay as a
leader in pre-loved fashion, and offering new ways for consumers to
connect and engage with brands."
"Certilogo was created to build connections between consumers
and brands, utilizing technology to simplify and strengthen those
relationships and unlock information that fundamentally changes how
we interact with apparel and accessories," said Michele Casucci, CEO and Founder, Certilogo.
"eBay pioneered recommerce, while Certilogo pioneered connected
products and consumer-facing digital authentication. By joining
forces, we will be able to make an immediate and significant
contribution, taking advantage of already consolidated skills and
infrastructures, promoting a model that has its foundation in
community and circularity."
Details on the Transaction
eBay has signed a
definitive agreement to acquire Certilogo as of May 15, 2023. Closing is subject to satisfaction
of customary conditions, including regulatory approvals, and is
expected to occur in the third quarter. 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, 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.