Yahoo Finance EBay Acquires Certilogo to Boost Pre-owned Authentication
EBay acquired AI-powered digital ID firm Certilogo as the latest move to boost its pre-loved fashion category.
Though financial details remain undisclosed, the definitive agreement was effective as of Monday, with closing expected by the third quarter. EBay’s momentum is in full swing, after recently investing in sporting goods resale marketplace SidelineSwap earlier this month and acquiring marketplace compliance solution 3PM Shield in February.
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This latest deal is said to represent a key investment in expanding the company’s pre-owned apparel offering, as Certilogo’s digital tech platform enables both authentication and a record of a product’s full life cycle. The Milan-based tech company was founded in 2006 and provides web-based digital identification so products can be seamlessly verified. Certilogo’s platform is already used by more than 80 fashion brands, including Diesel and Versace.
“For many years, consumers have turned to eBay as a trusted destination for buying and selling pre-loved apparel and fashion goods, not only because of the unmatched selection, but because of our commitment to utilizing the latest technology to empower our sellers and buyers,” eBay vice president Charis Marquez said in a statement. “Certilogo’s technology and talented team allows eBay to build on this commitment, establishing eBay as a leader in pre-loved fashion, and offering new ways for consumers to connect and engage with brands.”
“Certilogo was created to build connections between consumers and brands, utilizing technology to simplify and strengthen those relationships and unlock information that fundamentally changes how we interact with apparel and accessories,” commented Michele Casucci, chief executive officer and founder of Certilogo. “EBay pioneered re-commerce, while Certilogo pioneered connected products and consumer-facing digital authentication. By joining forces, we will be able to make an immediate and significant contribution, taking advantage of already-consolidated skills and infrastructures, promoting a model that has its foundation in community and circularity.”
Earlier this month, eBay released its 2022 impact report, showcasing new goals and progress on re-commerce, climate, social impact and charitable milestones. Last year, the 25-year-old business reported a 32 percent reduction in carbon emissions (up from 27 percent the previous year).
Technology is a key investment in the company’s growth.
By 2025, eBay looks to avoid 8 million metric tons of carbon emissions and deflect 350,000 metric tons of waste through selling pre-owned and refurbished goods on its platform. For the quarter ended March 31, eBay reported net sales inched up 1 percent to $2.51 billion on comparable basis.
In a past interview with WWD, eBay’s chief sustainability officer, Renee Morin, laid out the company’s re-commerce reboot as a reflection of today’s dynamic marketplace values. “Twenty-five years is a long time, and we wanted to make sure we’re being as responsive to the sentiments of our sellers — and our buyers — as we can be.”
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