eBay Acquires AI Based Apparel Services Provider Certilogo For Undisclosed Sum

eBay Inc EBAY has signed a definitive agreement to acquire Certilogo, a provider of AI-powered apparel and fashion goods digital IDs and authentication. Financial details of the transaction were not disclosed.
Certilogo's platform uses digital technology to empower brands and designers to manage the lifecycle of their garments.
Certilogo allows consumers to confirm authenticity, access reliable information about branded items.
The acquisition further solidifies eBay as a trusted destination to shop for pre-loved apparel and fashion, and marks a key investment in the growing pre-loved fashion category.
The transaction is expected to be closed in the third quarter.
eBay held $5.0 billion in cash and equivalents as of March 31, 2023.
Price Action: EBAY shares closed lower by 4.65% at $43.03 on Tuesday.

Momentum85.76

Growth68.78

Quality45.38

Value11.58

Short

Medium

Long