3PM Shield's
monitoring technology will simplify policy compliance for sellers,
and keep eBay a trusted marketplace
SAN
JOSE, Calif., Feb. 13,
2023 /PRNewswire/ -- eBay Inc. (Nasdaq: EBAY), a
global commerce leader that connects millions of sellers and buyers
around the world, and 3PM Shield LLC,
a provider of advanced AI-based marketplace compliance solutions,
today announced that eBay has acquired 3PM Shield.
This further enhances eBay's world-class monitoring solutions
with new technologies designed to prevent the sale of counterfeit
items, unsafe products and illegal goods.
Bringing 3PM Shield to eBay is
part of eBay's ongoing commitment to provide sellers and buyers
with a safe and trusted platform enabled by technology.
3PM Shield enhances eBay's ability to
address suspicious or harmful seller behavior, and potentially
problematic items.
"It is a top priority to help ensure that eBay remains a safe
and trusted environment for our global community of sellers and
buyers, particularly to prevent counterfeits and unsafe or illegal
products," said Zhi Zhou, Chief Risk
Officer at eBay. "3PM Shield has been
a valued and effective external partner in helping eBay tackle
these challenges and we look forward to unlocking additional
capabilities as we bring their technologies in-house."
"3PM Shield was founded to provide
next-generation eCommerce monitoring to protect trust in the buyer
and seller relationship," said Robert
Dunkel, founder and CEO, 3PM
Shield. "We're proud to partner with eBay, and I am excited that
eBay's investment will help us accelerate the impact of our cutting
edge technology to combat counterfeits, unsafe products and illegal
items."
Details on the Transaction
eBay has acquired
3PM Shield LLC, also known as
3PM Solutions, and the deal has
closed as of February 9, 2023.
Further details were not disclosed.
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 2021, eBay enabled over $87
billion of gross merchandise volume. For more information
about the company and its global portfolio of online brands, visit
www.ebayinc.com.
Forward-Looking Statements
Certain statements herein
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,"
"outlook," "plan," "project," "potential," "should," "would,"
"will" and other similar words or expressions. Such forward-looking
statements reflect eBay's current expectations or beliefs
concerning future events and actual events may differ materially
from historical results or current expectations. The reader is
cautioned not to place undue reliance on these forward-looking
statements, which are not a guarantee of future performance and are
subject to a number of uncertainties, risks, assumptions and other
factors, many of which are outside the control of eBay. The
forward-looking statements in this document address a variety of
subjects including, for example, the potential benefits of the
acquisition, including preventing listings of counterfeits, unsafe
products and illegal items. The following factors, among others,
could cause actual results to differ materially from those
described in these forward-looking statements: the possibility that
eBay may not fully realize the projected benefits of the
acquisition and business disruption following the transaction. In
addition, actual results are subject to other risks and
uncertainties that relate more broadly to eBay's overall business,
including those more fully described in eBay's filings with the
Securities and Exchange Commission, including its annual report on
Form 10-K for the fiscal 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 update publicly any
forward-looking statement, except as required by law.
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SOURCE eBay Inc.