Welcome to our dedicated page for eBay news (Ticker: EBAY), a resource for investors and traders seeking the latest updates and insights on eBay stock.
eBay Inc., headquartered in San Jose, California, is a global e-commerce leader connecting buyers and sellers in consumer-to-consumer and business-to-consumer transactions. Founded in 1995 by Pierre Omidyar, eBay became a standout success story of the dot-com bubble. Today, it operates one of the largest e-commerce marketplaces worldwide, with a gross merchandise volume (GMV) of $73 billion in 2023. The platform serves over 130 million buyers and roughly 20 million sellers across nearly 190 markets globally.
Business Model: eBay's revenue streams include listing fees, advertising, revenue-sharing arrangements with service providers, and managed payments. The company generates over 50% of its GMV from international markets, with significant footprints in the UK, Germany, and Australia.
Recent Achievements and Developments: In 2023, eBay reported significant organic GMV growth and robust financial health, backed by strategic initiatives and innovative customer experiences. The company entered into several high-profile agreements, including a deferred prosecution agreement with the U.S. Attorney's Office for actions taken by former employees in 2019, and a settlement with the DOJ regarding certain product listings.
Current Projects: eBay continues to foster community engagement and economic opportunities through events like the 'Catch 151' auction for Pokémon collectors and the 'From the Collection: Ken Block' auction. In Q1 2024, eBay announced partnerships to enhance the trading card hobby experience, including the acquisition of Goldin and a commercial agreement with PSA for integrated grading and vault services.
Financial Condition: eBay's financial results for Q1 2024 highlighted resilient marketplace performance amid global economic challenges. The company exceeded its financial outlook and made noteworthy progress in strategic objectives, emphasizing innovation and enhanced customer experiences.
Vision for the Future: eBay aims to reinvent the future of e-commerce for enthusiasts by maintaining high standards of conduct and ethics, supporting community engagement, and driving long-term shareholder value through continuous innovation and strategic partnerships.
eBay has launched its Authenticity Guarantee service for trading cards, authenticating single ungraded trading cards sold for $750 or more in the U.S. The service will expand in mid-2022 to include graded and other high-value cards starting at $250. With a trading cards market that reached $2 billion in transactions in the first half of 2021, eBay aims to enhance trust among collectors. This initiative adds to existing authentication services for sneakers, watches, and handbags, further establishing eBay as a leading platform for high-value collectibles.
eBay Inc. (Nasdaq: EBAY) will hold a virtual investor day on March 10, 2022, starting at 8:00 a.m. PT. CEO Jamie Iannone and CFO Steve Priest will present eBay's long-term strategies, growth drivers, and ESG initiatives. A live webcast will be available on their Investor Relations website. Additionally, eBay plans a conference call on February 23, 2022, to discuss fourth-quarter and fiscal year 2021 results. For more details, visit eBay's Investor Relations page.
eBay Inc. (Nasdaq: EBAY) announced a change to its Gross Merchandise Volume (GMV) definition, now including all paid transactions, shipping fees, and taxes. This adjustment aligns GMV with actual customer money flows and is attributed to the company's global payment management transition. The impact on previously reported GMV is deemed immaterial, maintaining consistency with prior guidance. The revised GMV definition aims to enhance transparency and better reflect the company’s performance metrics.
eBay Inc. (Nasdaq: EBAY) unveiled its second annual Up & Running Grant program recipients, awarding $10,000 each to 50 small businesses across 25 U.S. states. The program supports sellers by providing funding and access to training resources and mentorship. Notably, 80% of items sold on eBay are from small businesses, which have seen a 27% growth in the past year. This initiative is part of eBay's commitment to fostering small business success and economic opportunity.
eBay has acquired Sneaker Con's authentication business, enhancing its Authenticity Guarantee service launched in October 2020. This acquisition, finalized on November 24, 2021, will bolster eBay's capability to authenticate sneakers, with over 1.55 million verified pairs sold since the service's inception. The move aims to strengthen trust among users in eBay's global sneaker marketplace, which offers over 1.9 million pairs daily. This partnership aligns with eBay's strategy to adapt to resale market trends while providing a seamless user experience.
eBay is launching 'Hard to Find Gift Shops' in Detroit, Miami, and Houston to offer sought-after holiday gifts starting from November 19. These shops will feature exclusive items in categories like sneakers, collectibles, and luxury goods, making shopping easier amid stock shortages reported by 70% of millennial and Gen Z shoppers. The sneaker shop in Detroit will highlight top styles, the collectibles shop in Houston will focus on trading cards, and the luxury shop in Miami will showcase iconic designer brands. For shoppers outside these cities, items are available online at ebay.com/hardtofindshop.
eBay Inc. (Nasdaq: EBAY) has finalized the transfer of an 80.01% stake in its Korean businesses to Emart for approximately $3 billion in gross cash proceeds. This strategic move is aimed at enhancing eBay's focus on its core marketplace, providing greater value to its customers, employees, and shareholders. While eBay retains a 19.99% interest in its Korean operations, including G-Market and IAC, it remains committed to a $7 billion share buyback program for this fiscal year. The company will file related details with the SEC.
eBay announces the launch of eBay Refurbished, a new online destination for like-new products, including refurbished items from top brands like Apple and Samsung, backed by warranties. The introduction follows a successful Certified Refurbished program, which saw a 170% increase in sales during Cyber 5 last year. This initiative comes amidst supply chain issues, providing consumers with more options at competitive prices. A survey indicates that 62% of Americans are considering refurbished items for gifts this holiday season, reinforcing a growing trend towards sustainable shopping.
eBay has launched "The Sleigh Drop," a sneaker sales event offering exclusive access to unique sneaker collections from notable sneakerheads, including DJ Skee, La La Anthony, and Jacques Slade. Kicking off on November 5, 2021, the event features over 700 pairs of coveted sneakers, with new items released every Friday in November. The drop continues into December with collections from Slade and Anthony. eBay's sneaker category is experiencing double-digit growth, with a sneaker sold every 4 seconds and pre-owned sneakers selling 15% faster month-over-month.
eBay Inc. (Nasdaq: EBAY) reported Q3 2021 earnings with a revenue of $2.5 billion, marking an 11% increase year-over-year. Gross merchandise volume (GMV) declined to $19.5 billion, a decrease of 10%. GAAP net income from continuing operations was $283 million, or $0.43 per diluted share, down 53% from the previous year. The company returned $2.4 billion to shareholders through repurchases and dividends. eBay's capital allocation plan increased share buybacks to $7.0 billion. Plans for climate action were highlighted, including a commitment to reduce emissions by 90% by 2030.
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