E-commerce giant eBay Inc. announced Monday it would acquire the online trading card marketplace TCGplayer.
The deal to acquire the Syracuse, New York-based company, is valued at up to roughly $295 million and is expected to close in the first quarter of 2023, eBay said in a press release. However, it will be subject to customary closing conditions and regulatory approvals, the e-commerce company added.
TCGplayer builds applications, tools, and hardware for the collectible trading card industry, according to the release. It will operate autonomously following the acquisition, TCGplayer founder and CEO Chedy Hampson said, while "also benefiting from their [eBay's] decades of industry experience and resources to deepen the connection between hobbyists and their communities."
"eBay continues to build on our 26 years of experience in trading cards, powering local hobby stores and Main Street retailers to deliver an online destination that collectors love," Dawn Block, vice president of collectibles at eBay, said in a statement. "eBay has always fueled our customers' passion in this space and facilitated connections between buyers and sellers, and with TCGplayer, we can enhance the customer experience across categories, forge even more relationships, and cater to enthusiasts around the world."
Trading cards have seen "substantial growth," eBay noted in the release announcing the acquisition agreement.
The e-commerce giant made its Authenticity Guarantee service available for trading cards worth more than $750 earlier this year. In January, eBay reported hitting $2 billion worth of transactions for trading cards in the first six months of 2021.
The trading cards category grew by 142% in 2020, with the most popular cards being Pokémon, basketball, baseball, Magic the Gathering, and football, eBay reported in its 2021 "State of Trading Cards" report.