Ebay acquires AI firm 3PM Shield
Ebay said on Monday it has acquired 3PM Shield, a provider of AI-based marketplace compliance solutions, as the e-commerce giant looks to simplify policy compliance for sellers and keep the site a trusted marketplace.
The San Jose-based Ebay said the transaction "further enhances" the company's "monitoring solutions with new technologies designed to prevent the sale of counterfeit items, unsafe products and illegal goods,"
according to a press release.
Terms of the deal were not disclosed.
“It is a top priority to help ensure that eBay remains a safe and trusted environment for our global community of sellers and buyers, particularly to prevent counterfeits and unsafe or illegal products,” said Zhi Zhou, chief risk officer at Ebay. “3PM Shield has been a valued and effective external partner in helping Ebay tackle these challenges and we look forward to unlocking additional capabilities as we bring their technologies in-house.”
The 3PM Shield acquisition will also enhance Ebay's ability to address suspicious or harmful seller behavior, and potentially problematic items.
“3PM Shield was founded to provide next-generation e-commerce monitoring to protect trust in the buyer and seller relationship.” said Robert Dunkel, founder and CEO, 3PM Shield.
“We’re proud to partner with eBay, and I am excited that eBay's investment will help us accelerate the impact of our cutting edge technology to combat counterfeits, unsafe products and illegal items.”
Founded in 1995 in California, Ebay is one of the world's largest marketplaces for new and used goods. In 2021, the company clocked over $87 billion of gross merchandise volume.
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