Caramel's innovative
platform provides a secure and seamless digital
transaction experience for every vehicle
sale
SAN
JOSE, Calif., Feb. 6, 2025
/PRNewswire/ -- eBay Inc. (Nasdaq: EBAY), a global commerce leader
that connects millions of sellers and buyers around the world,
announced today the completion of its acquisition of Caramel, an
end-to-end online automotive transaction solution provider. The
signing of the transaction was previously announced in January.
Caramel's innovative technology platform provides a secure and
seamless digital transaction experience that handles all of the
complexities of a vehicle sale, including paperwork, ownership
transfer, financing, transportation and more. In addition to
simplifying buying and selling vehicles on eBay, Caramel will
continue to be available through multiple platforms including its
own site or app, contracted independent dealers, or via Caramel's
multiple marketplace and auction partners.
"At eBay, we know that buying a car is a significant decision,
and trust is at the heart of that experience," said Chris Prill, General Manager, eBay Motors. "By
integrating Caramel's seamless platform, we are underscoring eBay's
commitment to a more secure and transparent vehicle marketplace,
which in turn makes it easier than ever for buyers and sellers to
transact with confidence."
"Partnering with eBay is a natural fit for Caramel, as they
share our goals of fostering connections, building vibrant
communities, and making it easier than ever for people to buy and
sell the things they love." said Edward Brojerdi and Craig Nehamen,
co-CEOs and co-founders, Caramel. "We're excited about the
opportunity for our team and technology to elevate the car buying
journey for even more vehicle enthusiasts in the United States"
Caramel was founded in 2021 and is headquartered in Los Angeles CA.
Details on the Transaction
eBay has acquired Caramel
as of February 6, 2025. Further
details are 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 2023, eBay enabled more than $73 billion of gross merchandise volume. For more
information about the company and its global portfolio of online
brands, visit www.ebayinc.com.
About Caramel
Caramel is a US-based software provider
that offers a seamless end-to-end vehicle purchase experience
including identity and title verification, financing, warranty,
insurance, transportation for online car transactions.
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, availability of Caramel through
multiple platforms including its own site or app, contracted
independent dealers, or via Caramel's multiple marketplace and
auction partners. 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, 2024 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.
