eBay Buys the Sneaker Con Shoe Authentication Service
eBay bought the Sneaker Con shoe authentication service, a company that gives shoe lovers the peace of mind of knowing that the shoes they are buying are real. This extends eBay's existing association with the company.
eBay bought the Sneaker Con shoe authentication service, a company that gives shoe lovers the peace of mind of knowing that the shoes they are buying are real. The acquisition builds on eBay's existing relationship with the service, which began in October 2020 when eBay first launched its sneaker verification process.
When select shoe brands are purchased for over $ 100 on eBay, the shoes go through Sneaker Con before reaching the buyer. There, the shoes are thoroughly examined by experts who make sure they are authentic and match the description on the original listing.
The shoes are then shipped to buyers with tags showing that they have been verified. eBay notes that since the initiative's inception, 1.55 million sneakers have been authenticated on eBay. Its share of the sneaker market also remains stable, as 1.9 million shoes are available on the platform on a daily basis.
"The response to our authentication offering has been overwhelming, and this acquisition allows us to continue to transform eBay and bring a higher level of trust and confidence to every transaction," said Jordan Sweetnam, the SVP and general manager of eBay North America.
eBay offers its Authenticity Guarantee not only with sneakers but also with luxury watches and bags purchased on the platform. It also uses an unnamed third party to authenticate both types of items, which raises the question of whether eBay will buy these services as well.