Shulou(Shulou.com)11/24 Report--

Sina Science and Technology News Beijing time on August 23 morning news, eBay announced that it will buy card collection games for the price of 295 million U.S. dollars for the trading platform TCGplayer. The deal is expected to close in the first quarter of 2023, but will still depend on specific completion conditions.

EBay said the acquisition would help better serve card enthusiasts, which is seeing a "significant increase" in card transactions. TCGplayer was founded in 2008 as an amateur store in Syracuse, but has grown into a vertical e-commerce platform. The company has more than 600 employees and will continue to operate independently after the completion of the acquisition.

Dawn Block, vice president of eBay Collections, said: "eBay will continue to provide a popular online platform for local amateur stores and mainstream retailers based on 26 years of card trading experience. EBay has been stimulating customers' enthusiasm in this area and promoting the connection between buyers and sellers. Through TCGplayer, we can optimize the customer experience in multiple product categories, promote more relationships, and meet the needs of fans around the world. "

Chedy Hampson, founder and chief executive of TCGplayer, said in a statement that the acquisition would enable the company to benefit from eBay's industry experience and resources, while the company would remain independent. Upon completion of the deal, Hampson will continue as chief executive of TCGplayer and the company will continue to maintain its headquarters in downtown Syracuse.

"with the support of eBay, we will advance our goals, expand our tools and services, and improve the online and in-store collection experience," Hampson said in a press release.

For a long time, many card collectors buy and sell cards on the eBay platform, and eBay has recently been consolidating its position in this field. In January this year, eBay expanded its fidelity service to support the verification of high-value cards worth more than $750. EBay said at the time that it saw the value of providing authenticity services because of the high volume of card transactions on the platform.

EBay also said card transactions were growing "significantly faster" than the overall market, with transactions worth $2 billion in the first half of 2021, equivalent to the level for the whole of 2020.

Faced with competition from Facebook Marketplace and other locally traded apps, eBay is trying to build itself into a platform for users to find collectibles. The latest acquisition shows that eBay believes card transactions will continue to grow. As eBay says, the acquisition provides a way for it to "continue to be an ideal platform for card sellers".

Two months ago, eBay also announced that it would buy Manchester-based NFT platform KnownOrigin for an undisclosed amount. The platform helps artists and collectors create, purchase and transfer NFT digital collections. EBay said the acquisition included KnownOrigin's IP and team. Earlier this year, eBay also partnered with Web3 platform OneOf to launch the first NFT digital collection.

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