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E-commerce giant eBay on Monday annouced that it has entered into an agreement to acquire TCGplayer, an online marketplace for collectible trading card games, in a deal valued up to $295 million.
Founded in 1995, eBay is one of the world's largest and most popular marketplaces. TCGplayer was founded in 2008 and 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 founder and CEO Chedy Hampson announced the acquisition through TCGPlayer's blog site, TCGPlayer Infinite. He assured fans that despite the acquisition from eBay, TCGplayer, which employs more than 600 team members, will continue to operate independently.
We’re so excited to announce our agreement to join forces with @eBay. Read more: https://t.co/Jv2qra9p0g pic.twitter.com/QupDdcahIT
— chedy (@chedy) August 22, 2022
"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 Hampson in a press release. "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."
"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, in the press release. "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."
The deal is subject to customary closing conditions, including requisite regulatory approvals, and is expected to close in Q1 2023.
The announcement comes two months after eBay acquired NFT marketplace, KnownOrigin for an undisclosed sum. The platform has always been a popular site for card enthusiasts to buy and sell. The partnership between Ebay and TCGPlayer marks a new era of eBay's foray into the world of collectible cards.