New challenges, new priorities
The California-born giant experienced an increase in annual net revenue since 2019, and following the COVID-19 pandemic, hit a record of 10.4 billion U.S. dollars worldwide in 2021. Twenty years of marketplace expansion, acquisitions, and brand building gives eBay a massive competitive edge that keeps them ahead of their competition.In 2023, quarterly revenue figures for eBay showcase a slow recovery from the company’s low post-pandemic financials, where revenue figures matched lows last seen in 2019. Despite the small increase in quarterly revenue, there has been a continuous decline in eBay’s number of active buyers; customer satisfaction levels and gross merchandise volume have also been on the lower end in recent years. It's unsurprising that the company is making moves to adjust its business model. In 2022, eBay announced a handful of new acquisitions—including the NFT marketplace KnownOrigin, the automotive software company myFitment, as well as TCGplayer, an online marketplace for trading card game collectibles. As of July 2023, eBay has also acquired Certilogo, an AI-powered company that provides fashion goods authentication, with aims to increase customer satisfaction across the platform for sellers and buyers alike.
