Advertisement
Singapore markets closed

  • Straits Times Index

    3,176.51
    -11.15 (-0.35%)
     

  • Nikkei

    37,068.35
    -1,011.35 (-2.66%)
     

  • Hang Seng

    16,224.14
    -161.73 (-0.99%)
     

  • FTSE 100

    7,834.56
    -42.49 (-0.54%)
     

  • Bitcoin USD

    64,923.26
    +3,394.93 (+5.52%)
     

  • CMC Crypto 200

    1,333.70
    +21.07 (+1.63%)
     

  • S&P 500

    5,011.12
    -11.09 (-0.22%)
     

  • Dow

    37,775.38
    +22.07 (+0.06%)
     

  • Nasdaq

    15,601.50
    -81.87 (-0.52%)
     

  • Gold

    2,397.50
    -0.50 (-0.02%)
     

  • Crude Oil

    83.13
    +0.40 (+0.48%)
     

  • 10-Yr Bond

    4.6470
    0.0000 (0.00%)
     

  • FTSE Bursa Malaysia

    1,547.57
    +2.81 (+0.18%)
     

  • Jakarta Composite Index

    7,087.32
    -79.50 (-1.11%)
     

  • PSE Index

    6,443.00
    -80.19 (-1.23%)
     

SidelineSwap Secures Investment from eBay Ventures, Strengthening its Position as the Leading Marketplace for Sporting Goods

Business Wire
·3-min read

SAN FRANCISCO, May 04, 2023--(BUSINESS WIRE)--SidelineSwap, the premier online marketplace for new and used sporting goods, today announced a strategic investment from eBay Ventures, the corporate venture arm of global commerce leader eBay Inc. (Nasdaq: EBAY). SidelineSwap, which launched in 2015, enables resale wherever sports enthusiasts shop or play, both through its peer-to-peer online marketplace and through its trade-in partnerships with retailers and brands.

The eBay Ventures investment follows another recent investment in SidelineSwap by DSG Ventures, the corporate venture arm of Dick’s Sporting Goods, which was announced in November 2022. DSG Ventures, FJ Labs, and several angel investors are also participating in the round.

SidelineSwap’s Trade-in Platform includes pop-up events, in-store and online trade-in options for brands and retailers, and a suite of tools for resellers in the SidelineSwap community to power their own trade-in experiences. The Trade-in Platform is powered by SidelineSwap’s best-in-class marketplace technology and proprietary resale data, and represents the next generation of resale marketplaces. The hybrid model, which includes peer-to-peer and first-party sales, gives sellers the option to choose whatever works best for them – direct resale or instant trade-in value. Together, this ensures sporting goods customers can find a wide selection of gear at great prices on the marketplace.

Dawn Block, eBay's VP of Collectibles, Electronics and Home, said: "eBay is a pioneer of recommerce – the reselling of pre-loved goods – and it’s been a foundational element of our marketplace since day one. eBay Ventures’ investment in SidelineSwap represents our continued focus on circular economy and resale innovation, and our shared commitment to sustainability, affordability and best-in-class experiences for enthusiast buyers and sellers."

ADVERTISEMENT

Brendan Candon, Co-founder and CEO of SidelineSwap, shared his enthusiasm about working with eBay: "We’re excited about the eBay Ventures investment as it will help us to further shape the future of resale. Our team has long admired eBay as the pioneer in recommerce, and we are looking forward to working together to ensure sporting goods customers find the best selection of gear at the best prices."

SidelineSwap will use the investment to expand its trade-in platform and continue building the leading online marketplace in sports. This collaboration between eBay Ventures and SidelineSwap will empower both companies to better serve the sporting goods community.

About eBay

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 2022, eBay enabled nearly $74 billion of gross merchandise volume. For more information about the company and its global portfolio of online brands, visit www.ebayinc.com.

About SidelineSwap

SidelineSwap - the world's largest online marketplace for sporting goods - makes it easy for athletes, fans and sports families to safely buy and sell their gear. Founded in 2015, SidelineSwap has enabled athletes to earn more than $100 million to date by reselling the extra gear they have at home. Buyers can expect to find great value on a wide range of inventory across all sports, and sellers can quickly & easily turn their used sporting goods into cash or shopping credit. SidelineSwap has been one of the fastest growing marketplaces on Andreessen Horowitz's A16z Top 100 marketplace list from 2019-2022.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230504005247/en/

Contacts

SidelineSwap Doug Smith, doug@sidelineswap.com