eBay acquires myFitment: New opportunities for auto parts sellers

Recently, eBay announced the acquisition of myFitment. By applying the company's technology to the eBay platform, consumers can easily find parts that are suitable for their own car models.

“MyFitment’s technology enables sellers to optimize their listings while enabling consumers to find the right product for their vehicle across a broad range of categories , thereby stimulating sales and reducing returns,” said Chris Prill, vice president of eBay’s Automotive category.

“eBay has over 500 million accessories available worldwide, both new and used. When we were thinking about how to improve the shopping experience for our customers, we thought we could provide them with an innovative tool that would make it easy for them to find the accessories that are right for them.”

Brian Williams, myFitment’s chief operating officer, said: “We founded this company to help online sellers increase sales and scale their businesses by using technology to better connect with consumers. eBay is one of the largest online marketplaces in the world, and we believe that working with eBay will maximize the application of our technology.”

The acquisition is reportedly just a small part of eBay's vertical integration strategy. eBay CEO Jamie Iannone told Wall Street analysts earlier this month: " Auto parts and accessories is one of the key categories for eBay and one of the most recommended categories for sellers on the platform. "

Iannone continued, “From experience, we know this is important. To ensure that every user can find the right vehicle accessories for their model on the platform, we will fully upgrade our AI system, optimize search engines, marketing tools, advertising tools and other functions.”

On Monday, eBay announced that it would acquire the online card trading platform TCGplayer for US$300 million. It is said that card trading is also one of the categories that eBay focuses on developing.

However, eBay did not disclose in the statement what price it would acquire myFitment for, only indicating that the two parties had signed an agreement and completed the transaction on August 23, 2022.

eBay

Acquisition

Auto Parts