eBay has Entered into an Agreement to Acquire TCGplayer
eBay Inc. (Nasdaq: EBAY), a global commerce leader that connects millions of buyers and sellers around the world, and TCGplayer, a trusted marketplace for collectible card game enthusiasts, today announced they have entered into an agreement for eBay to acquire TCGplayer.
Trading cards are an attractive category, which has seen substantial growth. TCGplayer is a leading technology platform for the collectibles industry, and will continue to operate autonomously as one of the largest online marketplaces for trading card games. This acquisition complements eBay's focus category strategy and furthers the company's commitment to trading card enthusiasts – providing eBay with strategic omnichannel capabilities like order fulfillment and cart optimization, maintaining its position as a desirable platform for trading card sellers, and enhancing the overall experience for all customers.
TCGplayer has grown from its initial roots working with Syracuse-based hobby stores into an expansive ecommerce platform. The Company develops applications, inventory management tools and hardware like robotic sorting machines that are revolutionizing the collectibles industry, connecting thousands of hobby stores and online sellers with customers and collectors around the globe. TCGplayer has made strategic investments in its team, technology and products, and growing demand in a strong hobby collectible industry. Today, TCGplayer employs more than 600 team members, serving millions of hobbyist buyers, and tens of thousands of online sellers and brick-and-mortar retailers through the TCGplayer Marketplace and its Authentication Center.
Over the past two years, eBay has introduced significant products and enhancements that are important for buyers and sellers in the trading cards and collectibles category. With recent launches like eBay vault, the company is delivering a more seamless experience – offering benefits like instant transfer, authentication, insurance, affordable shipping and a tax-free storage location – and giving collectors peace of mind and unprecedented control over their assets.
Details on the Transaction
eBay will acquire TCGplayer for a total deal value of up to approximately $295 million. The deal is subject to customary closing conditions, including requisite regulatory approvals, and is expected to close in Q1 2023.
Evercore is acting as exclusive financial advisor and Cooley LLP is acting as legal counsel to TCGplayer in the transaction. Freshfields Bruckhaus Deringer LLP is acting as legal counsel to eBay.
SOURCE eBay Inc.
Trading cards are an attractive category, which has seen substantial growth. TCGplayer is a leading technology platform for the collectibles industry, and will continue to operate autonomously as one of the largest online marketplaces for trading card games. This acquisition complements eBay's focus category strategy and furthers the company's commitment to trading card enthusiasts – providing eBay with strategic omnichannel capabilities like order fulfillment and cart optimization, maintaining its position as a desirable platform for trading card sellers, and enhancing the overall experience for all customers.
"eBay continues to build on our 26 years of experience in trading cards, powering local hobby stores and Main Street retailers to deliver an online destination that collectors love," said Dawn Block, VP of Collectibles at eBay. "eBay has always fueled our customers' passion in this space and facilitated connections between buyers and sellers, and with TCGplayer, we can enhance the customer experience across categories, forge even more relationships, and cater to enthusiasts around the world."
"This new chapter allows us to continue operating independently within eBay, while also benefiting from their decades of industry experience and resources to deepen the connection between hobbyists and their communities," said Chedy Hampson, Founder and CEO of TCGplayer. "With eBay's support, we will advance our Purpose, and expand our tools and services to improve the collecting experience online and in your favorite local hobby store."
TCGplayer has grown from its initial roots working with Syracuse-based hobby stores into an expansive ecommerce platform. The Company develops applications, inventory management tools and hardware like robotic sorting machines that are revolutionizing the collectibles industry, connecting thousands of hobby stores and online sellers with customers and collectors around the globe. TCGplayer has made strategic investments in its team, technology and products, and growing demand in a strong hobby collectible industry. Today, TCGplayer employs more than 600 team members, serving millions of hobbyist buyers, and tens of thousands of online sellers and brick-and-mortar retailers through the TCGplayer Marketplace and its Authentication Center.
Over the past two years, eBay has introduced significant products and enhancements that are important for buyers and sellers in the trading cards and collectibles category. With recent launches like eBay vault, the company is delivering a more seamless experience – offering benefits like instant transfer, authentication, insurance, affordable shipping and a tax-free storage location – and giving collectors peace of mind and unprecedented control over their assets.
Details on the Transaction
eBay will acquire TCGplayer for a total deal value of up to approximately $295 million. The deal is subject to customary closing conditions, including requisite regulatory approvals, and is expected to close in Q1 2023.
Evercore is acting as exclusive financial advisor and Cooley LLP is acting as legal counsel to TCGplayer in the transaction. Freshfields Bruckhaus Deringer LLP is acting as legal counsel to eBay.
SOURCE eBay Inc.
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