Saying it is “doubling down” on providing tailored solutions for customer segments, eBay has taken a minority stake in online auction company bidadoo. While the two companies have had an 18-year partnership, the investment takes things to the next level, says Howard Hawk, bidadoo president. For eBay, the deal was prompted by the rapid transition of the heavy equipment industry from in-person to online transactions experienced during the pandemic. “By harnessing the capabilities and experience of bidadoo — the largest industrial seller on the platform — eBay can offer end-to-end transactions that are more transparent and efficient, while boosting buyer confidence in their purchase without having to see an item in person,” says Chris Prill, vice president of eBay Motors, North America. The companies estimate the value of the highly fragmented used equipment market at $50 billion to $60 billion. READ FULL ARTICLE>>
