eBay and bidadoo Announce Strategic Partnership to Transform Heavy Equipment Industry

Rhea-AI Summary

eBay (Nasdaq: EBAY) announced a strategic partnership with bidadoo, a prominent online auction company specializing in heavy equipment. This collaboration aims to enhance eBay's offerings in the $50-$60 billion used heavy equipment market, particularly as online sales have surged post-COVID. Bidadoo will leverage its expertise and eBay's platform to provide buyers with access to a wide array of equipment, supported by eBay's Business Equipment Protection Program. Both companies intend to improve the online buying experience, combining technology and customer trust.

Positive

• Strategic partnership with bidadoo enhances eBay's offerings in the $50-$60 billion heavy equipment market.
• Online sales of heavy equipment have accelerated, creating growth opportunities.
• bidadoo's expertise augments eBay's marketplace, improving customer trust and experience.
• The partnership supports access to a wide array of heavy equipment, enhancing product selection.

Negative

• None.

SAN JOSE, Calif., Sept. 9, 2021 /PRNewswire/ -- eBay Inc. (Nasdaq: EBAY), a global commerce leader that connects millions of buyers and sellers around the world, announced today a strategic partnership and investment in bidadoo, a leading online remarketing and auction company of equipment, trucks and capital assets. As one of the largest marketplaces for Heavy Equipment, eBay offers buyers a wide selection of equipment, trucks, parts and attachments for industries from construction to transportation to agriculture. This partnership will combine the proven platform and global reach of eBay with the unique capabilities and experience of bidadoo.

In the United States, the used Heavy Equipment market is estimated to be between $50 billion and $60 billion. This highly fragmented industry — historically reliant on offline, in-person sales and auctions — has seen adoption of online equipment marketplaces accelerate through the COVID-19 pandemic. This trend further enhances eBay's ecosystem of cross-category commerce, which sees high-value buyers on the marketplace purchase in more than one category. Of note, 25% of equipment buyers on eBay also purchase parts and attachments for their machines. Through this partnership, eBay and bidadoo will meet customers' needs by leveraging technology, data and expertise to deliver industry-leading, end-to-end solutions and value.

bidadoo brings specialized expertise in the Heavy Equipment sector, with a proven ability to provide a deep level of customer trust and assurances. Through bidadoo, eBay buyers have access to the best used construction equipment from leading manufacturers, governments, rental companies, contractors and financial institutions, all supported by eBay's Business Equipment Protection Program (BEPP). Additionally, bidadoo provides eBay buyers an added layer of confidence with the transaction — every bidadoo equipment listing includes a detailed condition report, photos and video demonstration, and is sold with the bidadoo 100% Guarantee, allowing for a full refund if a listing was not accurately represented.

"We are on a path to making eBay the best destination for customers across a wide range of categories," said Jordan Sweetnam, SVP North America at eBay. "We need deep expertise and a broad mix of inventory across our top categories — whether sourcing 45-ton excavators or a pair of Jordan 4s. bidadoo has been a leader in delivering solutions for Heavy Equipment buyers for nearly two decades, and will be a critical partner in eBay's journey to expand our experiences in this vertical." 

"We are excited to deepen our partnership with eBay to expand our asset remarketing and auction solutions," said Howard Hawk, president of bidadoo. "For over 18 years on eBay, bidadoo has been committed to delivering the best business and industrial buying and selling experience in the industry. From day one, we chose to build our business on eBay. We share a similar vision and DNA: being passionately customer-centric and laser-focused on improving marketplace and ecommerce efficiencies. Beyond this, we are both centered around trust and transparency. This investment will allow us to bring new solutions and capabilities that will add significant value to our customers and continue to grow our very passionate team."

The rapid shift in the Heavy Equipment online markets has created an opportunity for eBay and bidadoo to leverage their respective strengths. Together, eBay and bidadoo are committed to deliver value, selection and a trusted buying and selling experience for all customers, and be a leading solution in the market.

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 2020, eBay enabled over $85 billion of gross merchandise volume. For more information, visit ebayinc.com.

About bidadoo
bidadoo is the largest and most trusted online auction service on the world's largest auction marketplace, eBay. With eBay's 159 million active buyers around the globe, bidadoo provides equipment sellers access to the world's largest online auction marketplace, with its long-term partnership with eBay. bidadoo provides professional remarketing for used construction equipment, rental and municipal fleets, trucks, and other capital assets to many of the world's largest equipment and fleet companies. Check out our weekly online auctions at http://www.bidadoo.com.  

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SOURCE eBay Inc.

FAQ

What is the strategic partnership between eBay and bidadoo about?

eBay and bidadoo have partnered to enhance eBay's offerings in the heavy equipment market, leveraging bidadoo's expertise and eBay's platform.

How will the eBay and bidadoo partnership benefit heavy equipment buyers?

The partnership aims to improve the online buying experience, providing better access to a wide range of heavy equipment and ensuring customer trust.

What is the estimated size of the used heavy equipment market in the U.S.?

The used heavy equipment market in the U.S. is estimated to be between $50 billion and $60 billion.

What is the significance of the online auction model for heavy equipment sales?

The shift to online auctions for heavy equipment sales has accelerated due to COVID-19, presenting new growth opportunities for eBay and bidadoo.

What does bidadoo bring to the partnership with eBay?

Bidadoo brings specialized expertise in the heavy equipment sector and a proven ability to provide customer trust and transaction assurance.