The deal combines eBay's reach and reputation
with KnownOrigin's leading technology to empower a new wave of NFT
creators, sellers and buyers
SAN JOSE, Calif., June 22, 2022 /PRNewswire/ -- eBay Inc. (Nasdaq:
EBAY), a global commerce leader that connects millions of sellers
and buyers around the world, and KnownOrigin, one of the most
innovative non-fungible token (NFT) marketplaces, today announced
that eBay has acquired KnownOrigin. KnownOrigin's technology and
platform provides artists a place to create unique, authentic,
digital collectibles, in the form of NFTs.
This acquisition is an important step in eBay's tech-led
reimagination, ushering in a new era of digital collecting to the
world's top destination for collectibles. KnownOrigin, which was
founded in 2018 in Manchester, UK,
enables artists and collectors to create, buy and resell NFTs via
blockchain-support transactions. Since its founding, KnownOrigin
has seen significant growth as it has revolutionized the way people
create, buy, and sell NFTs.
"eBay is the first stop for people across the globe who are
searching for that perfect, hard-to-find, or unique addition to
their collection and, with this acquisition, we will remain a
leading site as our community is increasingly adding digital
collectibles," said Jamie Iannone,
CEO of eBay. "KnownOrigin has built up an impressive, passionate
and loyal group of artists and collectors making them a perfect
addition to our community of sellers and buyers. We look forward to
welcoming these innovators as they join the eBay
eBay's tech-led reimagination has resulted in significant
upgrades to the company's technology, performance and customer
experience, including tools that make it easier than ever to
discover, sell or buy anything. As a part of this, eBay began
allowing the buying and selling of NFTs in May 2021.
"We founded KnownOrigin to empower creators and collectors by
giving them the ability to showcase, sell, and collect unique,
authenticated digital items," said David
Moore, co-founder, KnownOrigin. "As interest in NFTs
continues to grow, we believe now is the perfect time for us to
partner with a company that has the reach and experience of eBay.
With more than twenty-five years building similar communities of
passionate individuals, we are excited by the opportunity to bring
a whole new audience on this journey. This is the start of a new
chapter in the KnownOrigin story and we couldn't choose a better
time to focus on building and innovating with the team at eBay.
This partnership will help us attract a new wave of NFT creators
Details on the Transaction
eBay is acquiring KnownOrigin and the companies have signed and
closed the deal as of June 22, 2022.
Further details were not disclosed.
eBay Inc. (Nasdaq: EBAY) is a global commerce leader that
connects people and builds communities to create economic
opportunity for all. Our technology empowers millions of buyers and
sellers in more than 190 markets around the world, providing
everyone the opportunity to grow and thrive. Founded in 1995 in
San Jose, California, eBay is one
of the world's largest and most vibrant marketplaces for
discovering great value and unique selection. In 2021, eBay enabled
over $87 billion of gross merchandise
volume. For more information about the company and its global
portfolio of online brands, visit www.ebayinc.com.
Certain statements herein are "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Exchange Act. Such forward-looking
statements are often identified by words such as "anticipate,"
"approximate," "believe," "commit," "continue," "could,"
"estimate," "expect," "hope," "intend," "may," "outlook," "plan,"
"project," "potential," "should," "would," "will" and other similar
words or expressions. Such forward-looking statements reflect
eBay's current expectations or beliefs concerning future events and
actual events may differ materially from historical results or
current expectations. The reader is cautioned not to place undue
reliance on these forward-looking statements, which are not a
guarantee of future performance and are subject to a number of
uncertainties, risks, assumptions and other factors, many of which
are outside the control of eBay. The forward-looking statements in
this document address a variety of subjects including, for example,
the potential benefits of the acquisition, including maintaining
eBay's position in the collectibles category and bringing new
audiences to the NFT market. The following factors, among others,
could cause actual results to differ materially from those
described in these forward-looking statements: the possibility that
eBay may not fully realize the projected benefits of the
acquisition and business disruption following the transaction. In
addition, actual results are subject to other risks and
uncertainties that relate more broadly to eBay's overall business,
including those more fully described in eBay's filings with the
Securities and Exchange Commission, including its annual report on
Form 10-K for the fiscal year ended December
31, 2021 and subsequent quarterly reports on Form 10-Q. The
forward-looking statements in this document speak only as of this
date. We undertake no obligation to revise or update publicly any
forward-looking statement, except as required by law.
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SOURCE eBay Inc.