EBay announces acquisition of consignment startup, Twice
The e-commerce giant has made its first acquisition since splitting with PayPal, acquiring the secondhand clothing startup, Twice. Its co-founders will be joining the eBay team.
Founded in 2012 in Oakland, California by Noah Ready-Campbell and Calvin Young, Twice has expanded from women’s clothing to shoes, handbags, and men’s fashion.
"We’ve bought and sold millions of pieces of clothing from customers in every state and a dozen countries. And we’ve attracted some of the best investors, advisors and employees in the world," reads its website. And now the founders are taking the next step in their global vision by joining eBay.
Through the acquisition, eBay will utilize Twice’s technology assets and will take 10 members of the company’s leadership and technology teams on board, including the co-founders and other team members. Together they will power eBay's Valet service that connects users with merchants to help them sell items for a cut of the profits. The Twice website will go dark later this month.
Co-founders, Ready-Campbell and Young said in a blog post, “Our vision for Twice has always been to make selling as easy as shopping, and to make buying used feel like buying new. As part of this agreement, eBay will be able to use some of the technology we’ve developed at Twice and integrate it into their broader assisted selling efforts.”
The acquisition of Twice is eBay’s first since parting ways with PayPal. PayPal and eBay began separate trading on Monday July 20.
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