Business
eBay Acquires Sneaker Con Authentication Business
The deal furthers eBay's vertical expansion strategy in sneakers and offers customers added confidence in the purchase of high-value items SAN JOSE, Calif.,
About this update from Ebay Inc.
[{"type":"text","content":"The deal furthers eBay's vertical expansion strategy in sneakers and offers customers added confidence in the purchase of high-value items\n\n\nSAN JOSE, Calif., Nov. 29, 2021 /PRNewswire/ -- eBay Inc. (Nasdaq: EBAY), a global commerce leader that connects millions of buyers and sellers around the world, and Sneaker Con Digital have entered into a definitive agreement under which eBay has acquired Sneaker Con's authentication business, a leading sneaker authenticator with operations in the U.S., U.K, Canada, Australia and Germany.\n\n \n \n \n \n \n \n\n \nThe acquisition is an extension of the ongoing collaboration between eBay and Sneaker Con, which has been critical to powering eBay's Authenticity Guarantee. The service, which eBay launched in October 2020, offers full vetting and verification of select sneakers bought on the marketplace by a team of Sneaker Con's industry experts. Authenticity Guarantee has significantly changed the way people buy and sell sneakers on eBay, as evidenced by quarter over quarter category growth. In just over a year, more than 1.55 million sneakers have been authenticated globally on eBay. \n\"eBay has always been a vibrant community of enthusiasts, with deeply knowledgeable buyers, sellers and employees,\" said Jordan Sweetnam, SVP and General Manager of eBay North America. \"We partnered with Sneaker Con to launch sneaker authentication on eBay last year because the team shared our passion for the category – with best-in-class capabilities to deliver what our customers want most. The response to our authentication offering has been overwhelming, and this acquisition allows us to continue to transform eBay and bring a higher level of trust and confidence to every transaction.\" \nSince launching Authenticity Guarantee, the variety of products eBay authenticates has kept pace with the types of items and inventory collectors are seeking. eBay will continue to build upon its offerings to accommodate resale market trends and ensure a seamless user experience that provides the community with a trusted marketplace.\n\"We respect eBay's commitment to the sneaker culture and are honored that Sneaker Con's authentication business will be incorporated into their platform,\" said Brad Fried, the company's Co-Founder.\nConceived in 2009, Sneaker Con has cultivated a global community of sneaker enthusiasts...