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eBay Acquires Sneaker Con Authentication Business
Fremont, CA: Retail has been transformed by e-commerce. It has evolved to meet people's changing needs and to make online shopping more convenient for today's customers. When it first began, e-commerce capabilities were fairly limited. But not any longer. Customization, improved return policies, and improved integration are just a few of the changes that have taken the world of e-commerce by storm. And the year 2021 will further transform the world of e-commerce.
eBay, a global commerce leader that connects millions of buyers and sellers across the world, and Sneaker Con Digital have established a definitive agreement under which eBay has acquired Sneaker Con's authentication business, a leading sneaker authenticator with operations in the US, Canada, UK, Australia and Germany.
The acquisition is an extension of eBay and Sneaker Con's ongoing collaboration, which has been crucial in powering eBay's Authenticity Guarantee. The service, which eBay will launch in October 2020, will provide full vetting and verification of select sneakers purchased on the marketplace by a team of Sneaker Con's industry experts. As evidenced by quarter-over-quarter category growth, Authenticity Guarantee has significantly changed how people buy and sell sneakers on eBay. Over 1.55 million sneakers have been authenticated globally on eBay in just over a year.
Since the introduction of Authenticity Guarantee, the range of products eBay authenticates has grown in tandem with the types of items and inventory collectors seek. eBay will continue to expand its offerings to meet the resale market's needs and offer a seamless user experience that provides the community with a trusted marketplace.
"eBay has always been a vibrant community of enthusiasts, with deeply knowledgeable buyers, sellers and employees," remarked Jordan Sweetnam, SVP and General Manager of eBay North America. "We partnered with Sneaker Con to launch sneaker authentication on eBay last year because the team shared our passion for the category – with best-in-class capabilities to deliver what our customers want most. The response to our authentication offering has been overwhelming, and this acquisition allows us to continue to transform eBay and bring a higher level of trust and confidence to every transaction."