eBay Acquires Certilogo

Rhea-AI Summary

eBay Inc. has completed its acquisition of Certilogo, a provider of AI-powered apparel and fashion goods digital IDs and authentication. The deal brings new 'Secure by Design' digital ID technology to eBay's fashion category, expanding opportunities in the circular economy. Certilogo's technology allows brands to manage the lifecycle of their garments and provides consumers with reliable product information, authentication, and access to circular services. The acquisition will enable eBay to offer secure and connected product solutions, protect customers from counterfeits, and engage in recommerce through counterfeit-proof digital product passports.

Deal brings new, 'Secure by Design' digital ID technology, authentication to eBay fashion category, expanding opportunities in the circular economy

SAN JOSE, Calif., July 11, 2023 /PRNewswire/ -- eBay Inc. (Nasdaq: EBAY), a global commerce leader that connects millions of sellers and buyers around the world, today announced it has completed its acquisition of Certilogo, a provider of AI-powered apparel and fashion goods digital IDs and authentication.

Based in Milan, Certilogo leverages digital technology to empower brands and designers to manage the lifecycle of their garments, while providing consumers a seamless way to engage with their favorite brands and fashion items, access reliable product information, confirm authenticity and easily activate circular services. Certilogo will continue to be led by CEO Michele Casucci.

"We are excited to welcome the talented Certilogo team to eBay, as they bring their passion and cutting-edge technology to our community of fashion enthusiasts," said Charis Marquez, VP, eBay. "Through this acquisition, eBay will be able to offer brands secure, connected product solutions that are both flexible and compatible. Brands will also be able to protect their customers from counterfeits and engage in recommerce through counterfeit-proof digital product passports."

"The partnership between Certilogo and eBay will unlock opportunities for consumers and brands to connect, opening up new potential to activate and expand engagement with the circular economy," said Michele Casucci, CEO and Founder, Certilogo. "Our team is ready to get right to work incorporating our technology and infrastructure and ensuring a seamless transition for our customers, brand partners, and the entire eBay community towards a more sustainable, connected future."

Details on the Transaction
eBay has acquired Certilogo as of July 11, 2023. Further details were not disclosed.

About eBay
eBay Inc. (Nasdaq: EBAY) is a global commerce leader that connects millions of buyers and sellers in more than 190 markets around the world. We exist to enable economic opportunity for individuals, entrepreneurs, businesses and organizations of all sizes. 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 2022, eBay enabled nearly $74 billion of gross merchandise volume. For more information about the company and its global portfolio of online brands, visit www.ebayinc.com.

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, 2022 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.

FAQ

What did eBay announce regarding Certilogo?

eBay Inc. has completed its acquisition of Certilogo, a provider of AI-powered apparel and fashion goods digital IDs and authentication.

What technology does Certilogo bring to eBay's fashion category?

Certilogo brings new 'Secure by Design' digital ID technology to eBay's fashion category.

What opportunities does the deal bring in the circular economy?

The deal brings opportunities to activate and expand engagement with the circular economy.

What benefits does Certilogo's technology provide?

Certilogo's technology allows brands to manage the lifecycle of their garments, provides consumers with reliable product information, authentication, and access to circular services.

What will eBay be able to offer brands through the acquisition?

eBay will be able to offer brands secure and connected product solutions, protection against counterfeits, and engage in recommerce through counterfeit-proof digital product passports.