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Saturday, Jun 15, 2024
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

Technology

eBay dives into collectibles market with TCGplayer

TCGplayer’s platform connects thousands of hobby stores and online sellers with customers and collectors around the world.

TCGplayer
Photo by Mick Haupt on Unsplash

eBay (NASDAQ:EBAY) signed an agreement to acquire collectibles technology platform, TCGplayer today.

TCG is a technology platform for the collectibles industry, and after the acquisition it will continue operating as an online marketplace for trading card games. This development works into eBay’s development strategy and provides omnichannel capabilities such as order fulfillment and cart optimization.

“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. 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,” said Dawn Block, VP of collectibles at eBay.

eBay is a global commerce company where people can buy everything from John Fluevog shoes to John Constantine comics anytime of day from almost anywhere in the world. The technology connects buyers and sellers in more than 190 markets across the world. TCG started in Syracuse-New York as a series of hobby stores and has since grown into an ecommerce platform that develops applications, inventory management tools and hardware-like robotic sorting machines.

TCG has been ranked among New York State’s 50 best employers, Fortune.com’s top 100 companies for women in the U.S. and certified a great place to work by its employees. The platform connects thousands of hobby stores and online sellers with customers and collectors around the world, making it a natural addition to eBay’s business model.

At present, the company employs over 600 team members, and supports millions of hobbyist buyers and tens of thousands of online sellers and brick-and-mortar stores through its marketplace and authentication centre.

“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. 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,” said Chedy Hampson, founder and CEO of TCGplayer.

The collectibles industry is expected to reach USD692.4 billion by 2032 according to Market Decipher, growing at a compound annual growth rate of 22 per cent. This market includes art collectibles, sports memorabilia, trading cards and toy collectibles, which represent the largest markets in 2021.

eBay’s acquisition of TCGplayer will cost USD$295 million and is anticipated to close in Q1 2023.

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