eBay Acquires the myFitment Group of Companies to Enhance Part and Accessories Listing Experience
eBay Inc. has completed the acquisition of myFitment, a leader in technology for online automotive and powersports parts sellers, as of August 23, 2022. This strategic move aims to enhance eBay's parts and accessories category by integrating myFitment's tools, which optimize fitment data and improve customer experience. eBay's VP of Motors, Chris Prill, emphasized that the acquisition will reduce returns and elevate buyer satisfaction, aligning with eBay's tech-led reimagination strategy. Financial terms of the deal remain undisclosed.
- Acquisition of myFitment enhances eBay's automotive parts and accessories category.
- Integration of myFitment's technology is expected to reduce returns and improve buyer satisfaction.
- The deal aligns with eBay's strategy of tech-led reimagination, providing innovative tools for sellers.
- None.
The deal brings the myFitment companies' proven, leading technology in-house to help customers increase sales, satisfaction
SAN JOSE, Calif., Aug. 23, 2022 /PRNewswire/ -- eBay Inc. (Nasdaq: EBAY), a global commerce leader that connects millions of sellers and buyers around the world, and the myFitment group of companies ("myFitment"), a leader in delivering the tools and support to help online automotive and powersports parts and accessories sellers thrive, today announced that eBay has acquired myFitment. myFitment's technology and platform provides powerful, easy-to-use, and affordable solutions that help sellers drive sales and avoid costly returns.
This acquisition is an important step in growing eBay's key parts and accessories category and advancing its tech-led reimagination by bringing a valuable, tech-based tool in-house and ensuring continued benefits for eBay sellers and buyers. myFitment's tools help sellers by optimizing fitment data for their listings, ensuring customers order the right parts and accessories for their vehicle, reducing returns and increasing buyer satisfaction.
"eBay is home to more than half a billion parts and accessories globally, ranging from brand new replacement parts to the vintage and hard to find. As we look to elevate the user experience within this category, it is critical we provide innovative tools to help shoppers find the right parts at the right price," said Chris Prill, VP, eBay Motors. "The integration of myFitment's proven technology marks an important step in eBay's tech-led reimagination. Not only will we optimize the listing process for sellers, but we will offer an added layer of confidence for buyers by simplifying how they navigate inventory to find parts that fit their vehicle."
"We founded myFitment to help online parts and accessory sellers use technology to better connect with their customers, increase their sales, and grow their businesses," said Brian Williams, chief operating officer, myFitment. "eBay is one of the leading platforms in the world for people looking to start or grow their online business, and I can think of no better partner to help bring our technology to more of the vehicle and motorsport businesses and enthusiasts we have served for nearly ten years."
eBay has acquired the myFitment group of companies, which includes, among others, myFitment, LLC and Illumaware, LLC and the parties have signed and closed the deal as of August 23, 2022. Further details were not disclosed.
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
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 maintaining eBay's position in the collectibles category and bringing new audiences to the NFT market. 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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