E-commerce giant eBay Inc. announced on Monday that it will acquire online trading card marketplace TCGplayer.
The deal to acquire the Syracuse, New York-based company is valued at approximately $295 million and is expected to close in the first quarter of 2023, eBay said in a press release. However, it will be subject to customary closing conditions and regulatory approvals, the e-commerce company added.
TCGplayer creates apps, tools and hardware for the trading card industry, according to the statement. It will operate on a stand-alone basis after the acquisition, said TCGplayer founder and CEO Chedy Hampson, while “also benefiting from their [eBay’s] decades of industry experience and resources to deepen the connection between fans and their communities.”
“eBay continues to build on our 26 years of collectible card experience, enabling local hobby shops and Main Street retailers to provide an online destination that collectors love,” said Dawn Block, vice president of collectibles at eBay, in a statement. “eBay has always fueled the passion of our customers in this space and made it easier for buyers and sellers to connect, and with TCGplayer we can improve the customer experience across all categories, forge even more relationships, and cater to enthusiasts around the world. .”
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Trading cards have seen “substantial growth,” eBay noted in the statement announcing the acquisition agreement.
The e-commerce giant made its authenticity guarantee service available for trading cards worth more than $750 earlier this year. In January, eBay announced it had reached $2 billion in trading card transactions in the first six months of 2021.
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The trading card category grew 142% in 2020, with the most popular cards being Pokémon, basketball, baseball, Magic the Gathering and soccer, eBay reported in its 2021 ‘State of Trading Cards’ report. .