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Dive Brief:
- eBay announced the deal on Monday, continuing its focus on the assembled market Get TCGplayerAccording to the company’s press release, a technology platform for the assembly industry.
- The total value of the deal is approximately $295 million and is expected to close in the first quarter of 2023. It is subject to customary closing conditions, including regulatory approvals.
- TCGplayer, which has more than 600 team members, will continue to operate independently following the acquisition.
Dive Insight:
EB is building its focus in the trading cards category by acquiring TCGplayer.
TCGplayer, which calls itself the largest online marketplace for trading card games, builds applications and technology that connect hobby businesses with customers.
The deal provides eBay with capabilities such as order fulfillment and cart optimization to enhance the customer experience.
“This new chapter allows us to continue to operate independently at eBay, and leverage their industry experience and resources to further strengthen the relationship between hobbyists and their community,” TCGplayer founder and CEO Chedi Hampson said in a statement.
Trading cards are growing as a category on eBay, reaching $2 billion in transactions in the first half of 2021. In January, the company Extend the guarantee of accuracy To include business cards.
Earlier this year, TCGplayer He announced his own conditioning guidelinesDeveloped in partnership with leading vendors as part of our commitment to authenticity. The guide is a unified set of card status descriptions that help rate cards, thereby facilitating communication between buyers and sellers.
EBay also soon Launched eBay Vault., a storage and digital marketplace for business cards and other collectibles. CEO Jamie Iannone said on a call with analysts in August that it is Volt. Accepting rated business cards Over $500 and will expand to more products over time.
“We’ve been leaning toward trading cards because of the opportunity we see in that market,” said Ian, who estimates eBay’s collectibles are in the $10 billion category. “We will continue to invest collectively and broadly as a category.”
The organization Introduced price guide and collection tools For business cards in 2021, which will allow consumers to view, manage and track their card portfolios. That year, eBay launched its ability for sellers Scan their business cards Using the app to reduce listing time.
eBay this summer Found KnownOrigin, a marketplace that allows artists and collectors to create, buy and sell NFTs through blockchain-powered transactions. The company said at the time that the acquisition would usher in “a new digital collection era with the world’s leading collection access destination.”
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