Certilogo’s AI-powered tool authenticates, unlocks wealth of information about apparel and brands
SAN JOSE, Calif., May 17, 2023 /PRNewswire/ — eBay Inc. (Nasdaq: EBAY), a global commerce leader that connects millions of sellers and buyers around the world, and Certilogo, a provider of AI-powered apparel and fashion goods digital IDs and authentication, today announced that eBay has signed a definitive agreement to acquire Certilogo. Certilogo’s platform uses digital technology to empower brands and designers to manage the lifecycle of their garments, while providing consumers a seamless way to confirm authenticity, access reliable information about branded items, and easily activate circular services.
This acquisition further solidifies eBay as a trusted destination to shop for pre-loved apparel and fashion, and marks a key investment in the growing pre-loved fashion category. It also provides customers with more confidence as they increasingly make more sustainably conscious purchase choices.
“For many years, consumers have turned to eBay as a trusted destination for buying and selling pre-loved apparel and fashion goods, not only because of the unmatched selection, but because of our commitment to utilizing the latest technology to empower our sellers and buyers,” said Charis Marquez, VP, eBay. “Certilogo’s technology and talented team allows eBay to build on this commitment, establishing eBay as a leader in pre-loved fashion, and offering new ways for consumers to connect and engage with brands.”
“Certilogo was created to build connections between consumers and brands, utilizing technology to simplify and strengthen those relationships and unlock information that fundamentally changes how we interact with apparel and accessories,” said Michele Casucci, CEO and Founder, Certilogo. “eBay pioneered recommerce, while Certilogo pioneered connected products and consumer-facing digital authentication. By joining forces, we will be able to make an immediate and significant contribution, taking advantage of already consolidated skills and infrastructures, promoting a model that has its foundation in community and circularity.”
Details on the Transaction
eBay has signed a definitive agreement to acquire Certilogo as of May 15, 2023. Closing is subject to satisfaction of customary conditions, including regulatory approvals, and is expected to occur in the third quarter. Further details were not disclosed.
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.
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SOURCE eBay Inc.
Originally published at https://www.prnewswire.com/news-releases/ebay-enters-into-agreement-to-acquire-certilogo-enhancing-pre-loved-fashion-category-with-digital-id-technology-301826902.html
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