eBay acquires leading NFT Marketplace, KnownOrigin
The deal combines eBay’s reach and reputation with KnownOrigin’s leading technology to bolster a new wave of NFT creators, sellers and buyers
SAN JOSE, California, June 22, 2022 / PRNewswire / – eBay Inc. (Nasdaq: EBAY), a global trading leader connecting millions of sellers and buyers worldwide, and KnownOrigin, one of the most innovative non-fungal token (NFT) marketplaces, announced today that eBay has acquired KnownOrigin. KnownOrigin’s technology and platform give artists a place to create unique, authentic, digital collectibles, in the form of NFTs.
This acquisition is an important step in eBay’s technology-led reimagination, ushering in a new era of digital collection into the world’s best destination for collectibles. KnownOrigin, which was founded in 2018 in Manchester, United Kingdom, enables artists and collectors to create, purchase and resell NFTs via blockchain support transactions. Since its inception, KnownOrigin has seen significant growth as it has revolutionized the way people create, buy and sell NFTs.
“EBay is the first stop for people around the world looking for the perfect, hard to find or unique addition to their collection, and with this acquisition we will remain a leading website as our community increasingly adds digital collectibles,” said Jamie Iannone, CEO of eBay. “KnownOrigin has built an impressive, passionate and loyal group of artists and collectors who make them a perfect addition to our community of sellers and buyers. We look forward to welcoming these innovators when they join the eBay community.”
eBay’s technology-driven 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 something. As part of this, eBay began allowing the purchase and sale of NFTs in May 2021.
“We founded KnownOrigin to empower creators and collectors by giving them the ability to display, sell and collect unique, authentic 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 to build similar communities of passionate individuals, we are excited about the opportunity to bring a whole new audience on this journey.This is the start of a new chapter in KnownOrigin history, and we could not choose a better time to focus on building and innovating with the team on eBay.This partnership will help us attract a new wave of NFT creators and collectors. “
Details of the transaction
eBay buys KnownOrigin and the companies have signed and terminated the agreement per June 22, 2022. No further details were released.
About eBay
eBay Inc. (Nasdaq: EBAY) is a global trading leader that connects people and builds communities to create financial opportunities for all. Our technology empowers millions of buyers and sellers in more than 190 markets around the world, giving 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 activated over $ 87 billion of gross product volume. For more information about the company and its global portfolio of online brands, visit www.ebayinc.com.
Future-oriented statements
Some statements here 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”, “prospects”, “plan”, “project”, “potential”, “should”, “will”, “will” and other similar words or expressions, such forward-looking statements reflect eBay’s current expectations or beliefs regarding future events, and actual events may differ materially from historical results or current expectations. The forward-looking statements in this document address a range of issues, including, for example, the potential benefits of the acquisition, including maintaining eBay’s position in the collectibles category and bringing new audiences to NFT. market. The following factors, among others, may cause actual results to differ materially from those described in these forward-looking statements: the possibility that eBay may not fully realize the expected benefits of the acquisition and business interruption after the transaction. In addition, actual results are subject to other risks and uncertainties that are more generally related to eBay’s overall business, including those more fully described in eBay’s submissions to the Securities and Exchange Commission, including the annual report on Form 10-K for the financial 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 publicly update any forward-looking statements, except as required by law.
SOURCE eBay Inc.
