eBay Makes Investment in Sporting Goods Marketplace
eBay invested in a sporting goods marketplace called SidelineSwap through its corporate venture arm called eBay Ventures. It’s not the first time eBay Ventures has invested in a competing marketplace – in January it had invested in Cudoni, a UK “luxury resale platform”. It also invested in Notable Live and said it would bring exclusive in-game merchandise, non-fungible tokens (NFTs) and experiences to the eBay platform.
As we noted in this January post, while venture capital investments are typically risky, they give eBay a foot in the door if the startup is successful — and if one of the startups becomes the next big thing, it could be a significant one lead payout. However, this was not the case for Cudoni, who shut down in the spring citing the economy, writing in part: “The market and the world have seen unprecedented changes and the rising cost of living and the economic crisis have made it difficult for any start-up, not just ourselves.”
eBay Ventures last week announced its latest investment in SidelineSwap, which it bills as the leading online marketplace for new and used sporting goods. “Launched in 2015, SidelineSwap 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,” it explained.
Dawn Block, VP of Collectibles, Electronics and Home at eBay, said that eBay Ventures’ investment in SidelineSwap reflects eBay Ventures’ continued focus on circular economy and resale innovation, and a shared commitment to sustainability, affordability and superior experiences for enthusiastic buyers and sellers .
SidelineSwap will use the investment to expand its trade-in platform and continue to build the leading online sports marketplace. The collaboration between eBay Ventures and SidelineSwap “will position both companies to better serve the sporting goods community.”
Ina Steiner
