EBay Buys Twice Assets In Consignment-shop Play

EBay Inc. has purchased key technology and top leadership of Twice, an online marketplace for secondhand clothes. Twice, which refers to itself as a hybrid between traditional online retailers like Amazon.com Inc. and peer-to-peer marketplaces like eBay, is an e-commerce site that enables people to exchange their high-quality used clothing for money. Under the terms of this deal, the existing Twice website and brand will be shut down, and certain members of the Twice leadership team moved to eBay to operate within a division called eBay Valet, which enables people to send items into eBay to be sold by third-party sellers. The trade-off is that eBay keeps 20% of the sale price if those items sell. eBay is not acquiring other Twice assets, such as warehouses. The deal, announced Monday afternoon, comes the same day that eBay's spun-off payments arm, PayPal Holdings , began trading as a separate public entity. Shares of eBay ticked up 2.9% to $28.71 in recent trade.