eBay announced today that it has closed its acquisition of Certilogo, a company that provides AI-powered apparel and fashion goods digital IDs and authentication. The financial terms of the deal were not disclosed. The Milan-based company will continue to be led by CEO Michele Casucci.
Certilogo uses digital technology to help brands manage the lifecycle of their garments, while providing consumers a way to confirm authenticity and access reliable information about items. eBay’s acquisition indicates that it’s looking to boost secondhand fashion authentication on its marketplace.
“We are excited to welcome the talented Certilogo team to eBay, as they bring their passion and cutting-edge technology to our community of fashion enthusiasts,” said eBay VP Charis Marquez in a statement. “Through this acquisition, eBay will be able to offer brands secure, connected product solutions that are both flexible and compatible. Brands will also be able to protect their customers from counterfeits and engage in recommerce through counterfeit-proof digital product passports.”
When eBay first announced the purchase back in May, the company said the acquisition marked a key investment in the growing pre-loved fashion category. The company said the purchase solidifies eBay as a trusted destination to shop for pre-loved apparel and fashion. eBay also noted that it provides customers with more confidence as they make more sustainably conscious purchase choices.
“The partnership between Certilogo and eBay will unlock opportunities for consumers and brands to connect, opening up new potential to activate and expand engagement with the circular economy,” said Certilogo CEO and founder Michele Casucci in a statement. “Our team is ready to get right to work incorporating our technology and infrastructure and ensuring a seamless transition for our customers, brand partners, and the entire eBay community towards a more sustainable, connected future.”
This latest acquisition comes as eBay has been looking to enhance its authentication and fraud detection capabilities over the past few years. In 2021, eBay acquired Sneaker Con Digital’s authentication business, which verifies the authenticity of high-value footwear. In February, the company acquired AI-powered fraud detection company 3PM Shield.
eBay acquires AI-powered product authentication company Certilogo by Aisha Malik originally published on TechCrunch
Source : eBay acquires AI-powered product authentication company Certilogo
