Agreement Brings Proven Leading Technology From MyFitment Companies In-House to Help Customers Increase Sales, Satisfaction
SAN JOSE, CA., August 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 providing of tools and support to help online sellers of automotive and powersports parts and accessories thrive, eBay announced today its acquisition of myFitment. myFitment’s technology and platform provide 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 & Accessories category and advancing its technology-driven reimagining by bringing a valuable technology-based tool in-house and ensuring continued benefits to customers. eBay sellers and buyers. myFitment’s tools help sellers by optimizing fitment data for their listings, ensuring customers order the correct parts and accessories for their vehicle, reducing returns and increasing buyer satisfaction.
“eBay is home to more than half a billion parts and accessories worldwide, ranging from new replacement parts to vintage and hard-to-find parts. As we seek to improve the user experience in this category, it is critical that we provide innovative tools to help buyers find the right parts at the right price,” said Chris Prill, Vice President, eBay Motors. “The integration of myFitment’s proven technology marks an important step in eBay’s technological reimagining. Not only will we streamline the listing process for sellers, but we’ll provide an extra layer of trust for buyers by simplifying the way whose inventory they browse to find parts that fit their vehicle.”
“We founded myFitment to help online parts and accessories sellers use technology to better connect with their customers, increase sales and grow their businesses,” said Brian Williams, COO, myFitment. “eBay is one of the world’s leading platforms for people looking to start or grow their online business, and I can’t think of a better partner to help bring our technology to more businesses and vehicle and motorsport enthusiasts that we have served for nearly a decade.”
eBay has acquired the myFitment group of companies, which includes, among others, myFitment, LLC and Illumaware, LLC and the parties executed and entered into the agreement effective August 23, 2022. More 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 over 190 markets around the world, giving everyone the opportunity to grow and prosper. Founded in 1995 in San Jose, California, eBay is one of the world’s largest and fastest growing marketplaces for discovering great value and unique selection. In 2021, eBay enabled more than $87 billion of the gross volume of goods. For more information about the company and its global portfolio of online brands, visit www.ebayinc.com.
Certain statements contained 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. These forward-looking statements are often identified by words such as “anticipate”, “approach”, “believe”, “undertake”, “continue”, “could”, “estimate”, “expect”, “hope”, “intend”, “may”, “outlook”, “plan”, “project”, “potential”, “should”, “will”, “will” and other similar words or expressions. These forward-looking statements reflect eBay’s current expectations or beliefs regarding future events, and actual events may differ materially from historical results or current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which do not constitute not guarantee of future performance and are subject to a number of uncertainties, risks, assumptions and other factors, many of which are beyond eBay’s control.The forward-looking statements contained herein cover a variety of topics , including, for example, the potential benefits els of the acquisition, including maintaining eBay’s position in the collectibles category and bringing new audiences to the NFT marketplace. 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 anticipated 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 described in more detail 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 contained in this document speak only as of this date. We undertake no obligation to publicly revise or update any forward-looking statement, except as required by law.
SOURCE eBay Inc.