eBay set to acquire trading card game platform, TCGplayer for $295Mn

American e-commerce giant, eBay, has reportedly announced plans to acquire online trading card games marketplace TCGplayer in a takeover deal worth more than $295 million.

as per reports, being subject to the customary closing conditions, the proposed transaction is expected to complete by the first quarter of next year.

According to eBay, the acquisition signifies the company’s commitment to trading card enthusiasts, adding that there has been ‘substantial growth’ for it in the trading cards sector.

TCGplayer, which was founded in 2008 in Syracuse, started as a hobby store and turned into an e-commerce marketplace. The platform currently has over 600 staff and will continue operating autonomously post-acquisition.

Dawn Block, VP of Collectibles, eBay, stated in a press release that the firm has been building on its 26-year-long experience in trading cards and facilitating Main Street as well as local hobby stores to offer an online destination loved by collectors.

Block added that the platform always drove its customers’ passion for trading cards and enabled connections between sellers and buyers, and with TCGplayer will be able to enhance the customer experience across various categories, forge more relationships and cater to enthusiasts worldwide.

Chedy Hampson, Founder and CEO, TCGplayer, stated that the acquisition will benefit the marketplace from eBay’s experience and resources while it continues operations independently.

Hampson will continue his position as the marketplace’s CEO and the firm will also keep its headquarters in Syracuse after the deal is completed.

According to Hampson, with eBay’s support, TCGplayer will advance its purpose and expand its services and tools for boosting the online as well as in-store collecting experience.

Recently, eBay has been working on securing its position as the preferred place for buying and selling trading cards.

Earlier in January, the firm extended its authentication service to incorporate authentication support for valuable trading cards worth up to $750, having said at the time that it saw value in the service given the high activity in that category on its platform.

Source credit: https://techcrunch.com/2022/08/22/ebay-acquiring-trading-card-marketplace-tcgplayer-295m/