eBay Announces Commercial Agreement and Investment in Sports Trading Card Company COMC, Strengthening Commitment to Collectible Enthusiasts

Rhea-AI Summary

eBay Inc. (Nasdaq: EBAY) and COMC have entered a commercial agreement to accelerate the growth of the trading card hobby, with eBay also investing in COMC. The partnership aims to expand COMC's technology-based listing and management model, offering collectors extensive selection and improved listing capabilities. This reinforces eBay's commitment to supporting sellers and collectors, providing innovative experiences to help them thrive and fuel their passions. COMC's unique model offers buyers and sellers an expert partner with a deep catalog and sophisticated fulfillment capabilities, effectively managing a high volume of trading cards at multiple price points. eBay's investment will help unlock access to new services for eBay customers, including making listing easier and more efficient.

Deal will expand COMC's technology-based listing and management model, offering collectors extensive selection and improved listing capabilities

SAN JOSE, Calif., Nov. 29, 2023 /PRNewswire/ -- eBay Inc. (Nasdaq: EBAY), a global commerce leader that connects millions of sellers and buyers around the world, and COMC, an innovator in the sports trading cards space, today announced that the companies have entered a commercial agreement to accelerate the growth of the trading card hobby. The deal also includes an eBay investment in COMC. This partnership reinforces eBay's deep commitment to supporting sellers and collectors across The Hobby, delivering innovative experiences to help them thrive and fuel their passions.

With nearly 300 employees and 200,000 square feet of distribution space, COMC's unique model offers buyers and sellers an expert partner with a deep catalog and sophisticated fulfillment capabilities. COMC has a demonstrated ability to effectively manage a high volume of trading cards at multiple price points. eBay's investment will help unlock access to new services for eBay customers, including making listing easier and more efficient.

"As the ecommerce home for trading cards enthusiasts, we're excited to work with a company that shares our commitment to innovating for collectors and sellers, so they can do more of what they love," said Gene Cook, VP of Global Collectibles, eBay. "This investment will help deliver seamless, magical experiences for The Hobby, making it easier for sellers to digitize their inventory and helping buyers find exactly the cards they want."

"COMC was created to reimagine the collecting experience for trading card enthusiasts by using technology and innovation to remove the greatest pain points, allowing fellow collectors to focus on what they enjoy," said Tim Getsch, CEO and Co-Founder, COMC. "We are excited to utilize eBay's investment to accelerate our pace of innovation, improving the experience for our customers, employees, and partners. eBay's faith in COMC is a testament to our talented and passionate team. We're thrilled to partner with eBay to continue our journey of simplifying collecting, bringing joy to The Hobby, and making it accessible for as many people as possible."

Founded in Seattle in 2005 by Tim and Julia Getsch, COMC's core values center on fostering an innovative and fun team and culture, to offer collectors an accurate, trusted, efficient experience.

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.

About COMC
COMC is a leading marketplace for collecting and selling sports cards, gaming cards, comics, and more. With nearly 300 employees and over 100 million trading cards under management, COMC offers customers premium service and maximum ease to collect online. COMC's innovative "buy now, ship later" model allows customers to collect over time while minimizing shipping costs. Driven into its ethos, the purpose of COMC is to "optimize joy for collectors." The company is headquartered in Redmond, Washington. To learn more, visit www.comc.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 investment and commercial agreement, including providing access to new services for eBay customers, such as easier and more efficient listing processes. 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 investment 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.

View original content:https://www.prnewswire.com/news-releases/ebay-announces-commercial-agreement-and-investment-in-sports-trading-card-company-comc-strengthening-commitment-to-collectible-enthusiasts-302001165.html

SOURCE eBay Inc.

FAQ

What is the commercial agreement between eBay Inc. and COMC about?

The commercial agreement aims to accelerate the growth of the trading card hobby, with eBay investing in COMC to expand its technology-based listing and management model.

What benefits does COMC's unique model offer to buyers and sellers?

COMC's model offers buyers and sellers an expert partner with a deep catalog and sophisticated fulfillment capabilities, effectively managing a high volume of trading cards at multiple price points.

How will eBay's investment benefit its customers?

eBay's investment will unlock access to new services for customers, including making listing easier and more efficient.

What are COMC's core values?

COMC's core values center on fostering an innovative and fun team and culture, to offer collectors an accurate, trusted, efficient experience.