eBay Acquires 3PM Shield to Bring Advanced Marketplace Compliance Technology In-House
eBay Inc. (Nasdaq: EBAY) has acquired 3PM Shield LLC to enhance its marketplace compliance technology, finalized on February 9, 2023. This acquisition aims to strengthen eBay's capability in preventing the sale of counterfeit items, unsafe products, and illegal goods, thereby reinforcing its commitment to a safe trading environment for its users. Key stakeholders, including Zhi Zhou, eBay's Chief Risk Officer, emphasized the importance of this technology in addressing suspicious seller behavior. The full details of the transaction were not disclosed, but it marks a significant step in eBay's strategy to enhance its trust and safety measures.
- Acquisition of 3PM Shield enhances eBay's marketplace compliance technology.
- Strengthens ability to prevent counterfeit items and unsafe products.
- Reinforces eBay's commitment to a safer trading environment for users.
- Potential risks in fully realizing projected benefits from the acquisition.
- Business disruptions may occur following the transaction.
3PM Shield's monitoring technology will simplify policy compliance for sellers, and keep eBay a trusted marketplace
SAN JOSE, Calif., Feb. 13, 2023 /PRNewswire/ -- eBay Inc. (Nasdaq: EBAY), a global commerce leader that connects millions of sellers and buyers around the world, and 3PM Shield LLC, a provider of advanced AI-based marketplace compliance solutions, today announced that eBay has acquired 3PM Shield.
This further enhances eBay's world-class monitoring solutions with new technologies designed to prevent the sale of counterfeit items, unsafe products and illegal goods.
Bringing 3PM Shield to eBay is part of eBay's ongoing commitment to provide sellers and buyers with a safe and trusted platform enabled by technology. 3PM Shield enhances eBay's ability to address suspicious or harmful seller behavior, and potentially problematic items.
"It is a top priority to help ensure that eBay remains a safe and trusted environment for our global community of sellers and buyers, particularly to prevent counterfeits and unsafe or illegal products," said Zhi Zhou, Chief Risk Officer at eBay. "3PM Shield has been a valued and effective external partner in helping eBay tackle these challenges and we look forward to unlocking additional capabilities as we bring their technologies in-house."
"3PM Shield was founded to provide next-generation eCommerce monitoring to protect trust in the buyer and seller relationship," said Robert Dunkel, founder and CEO, 3PM Shield. "We're proud to partner with eBay, and I am excited that eBay's investment will help us accelerate the impact of our cutting edge technology to combat counterfeits, unsafe products and illegal items."
Details on the Transaction
eBay has acquired 3PM Shield LLC, also known as 3PM Solutions, and the deal has closed as of February 9, 2023. Further details were not disclosed.
About eBay
eBay Inc. (Nasdaq: EBAY) is a global commerce leader that connects people and builds communities to create economic opportunity for all. Our technology empowers millions of buyers and sellers in more than 190 markets around the world, providing everyone the opportunity to grow and thrive. 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 2021, eBay enabled over
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.
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