San Francisco, Aug 22 (SocialNews.XYZ) Global e-commerce company eBay on Monday announced it has acquired TCGplayer, a marketplace for collectible card game enthusiasts, for $295 million.
TCGplayer employs more than 600 people, serving millions of hobbyist buyers and tens of thousands of online sellers and brick-and-mortar retailers through its Marketplace and authentication centre.
"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.
"With TCGplayer, we can enhance the customer experience across categories, forge even more relationships, and cater to enthusiasts around the world," Block said in a statement.
Trading cards are an attractive category, which has seen substantial growth.
"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 Chedy Hampson, Founder and CEO of TCGplayer.
TCGplayer develops applications, inventory management tools and hardware like robotic sorting machines that are revolutionising the collectibles industry, connecting thousands of hobby stores and online sellers with customers and collectors around the globe.
The deal is subject to customary closing conditions, including requisite regulatory approvals, and is expected to close in Q1 2023.