2022-08-23 | NDAQ:EBAY | Press Release | eBay Inc.

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The deal brings the myFitment firms’ confirmed, main expertise in-house to assist clients enhance gross sales, satisfaction

SAN JOSE, Calif., Aug. 23, 2022 /PRNewswire/ — eBay Inc. (Nasdaq: EBAY), a world commerce leader that connects millions of sellers and buyers around the world, and the myFitment group of firms (“myFitment”), a frontrunner in delivering the instruments and assist to help online automotive and powersports elements and equipment sellers thrive, right now announced that eBay has acquired myFitment. myFitment’s know-how and platform supplies powerful, easy-to-use, and inexpensive solutions that assist sellers drive gross sales and keep away from pricey returns.

This acquisition is a vital step in rising eBay’s key components and equipment category and advancing its tech-led reimagination by bringing a valuable, tech-based tool in-house and guaranteeing continued benefits for eBay sellers and buyers. myFitment’s tools help sellers by optimizing fitment knowledge for their listings, ensuring prospects order the proper components and equipment for their vehicle, reducing returns and growing buyer satisfaction.

“eBay is house to more than half a billion parts and equipment globally, starting from model new replacement elements to the vintage and exhausting to search out. As we look to raise the consumer experience inside this class, it is important we offer innovative instruments to assist shoppers discover the proper components at the right worth,” stated Chris Prill, VP, eBay Motors. “The integration of myFitment’s proven expertise marks an necessary step in eBay’s tech-led reimagination. Not only will we optimize the itemizing process for sellers, however we will supply an added layer of confidence for patrons by simplifying how they navigate stock to find elements that match their car.”

“We founded myFitment to assist on-line components and accent sellers use expertise to better connect with their clients, increase their sales, and develop their companies,” said Brian Williams, chief working officer, myFitment. “eBay is one of the main platforms in the world for folks seeking to begin or grow their on-line business, and I can think of no better companion to help deliver our expertise to extra of the automobile and motorsport companies and enthusiasts we now have served for nearly ten years.”

Details on the Transaction

eBay has acquired the myFitment group of corporations, which includes, amongst others, myFitment, LLC and Illumaware, LLC and the parties have signed and closed the deal as of August 23, 2022. Further particulars were not disclosed.

About eBay

eBay Inc. (Nasdaq: EBAY) is a global commerce leader that connects folks and builds communities to create financial alternative for all. Our expertise empowers tens of millions of buyers and sellers in additional than 190 markets around the world, offering everybody the opportunity to grow and thrive. Founded in 1995 in San Jose, California, eBay is certainly one of the world’s largest and most vibrant marketplaces for discovering nice value and unique selection. In 2021, eBay enabled over $87 billion of gross merchandise quantity. For more details about the company and its international portfolio of online manufacturers, visit www.ebayinc.com.

Forward-Looking Statements

Certain statements herein are “forward-looking statements” inside 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 recognized by phrases corresponding to “anticipate,” “approximate,” “believe,” “commit,” “proceed,” “might,” “estimate,” “anticipate,” “hope,” “intend,” “may,” “outlook,” “plan,” “challenge,” “potential,” “should,” “would,” “will” and other comparable words or expressions. Such forward-looking statements replicate eBay’s present expectations or beliefs concerning future occasions and precise events may differ materially from historical outcomes or present expectations. The reader is cautioned to not place undue reliance on these forward-looking statements, which are not a assure of future efficiency and are subject to a selection of uncertainties, dangers, assumptions and different elements, many of which are outside the management of eBay. The forward-looking statements on this document tackle a selection of subjects together with, for instance, the potential benefits of the acquisition, together with sustaining eBay’s position in the collectibles class and bringing new audiences to the NFT market. The following components, amongst others, could trigger actual results to differ materially from these described in these forward-looking statements: the chance that eBay may not absolutely realize the projected advantages of the acquisition and business disruption following the transaction. In addition, precise outcomes are topic to different risks and uncertainties that relate extra broadly to eBay’s general business, together with those extra absolutely described in eBay’s filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the fiscal yr ended December 31, 2021 and subsequent quarterly stories on Form 10-Q. The forward-looking statements on this doc speak only as of this date. We undertake no obligation to revise or update publicly any forward-looking statement, besides as required by legislation.

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SOURCE eBay Inc.

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