Ryan Cohen, owner of GameStop, has been claiming for a few days his intention to buy eBay for 56 billion dollars. Given that the total value of GameStop does not exceed 6 billion dollars and they generate less than 3.8 billion dollars in annual gross revenue, this seemed like a completely unrealistic possibility. Something that has been confirmed at eBay in the most brutal way possible: by saying that they do not consider it possible or realistic. In fact, those have been the almost literal words from Paul Pressler, the chairman of eBay’s shareholder board. “We have considered that your proposal does not
Ryan Cohen, owner of GameStop, has been claiming his intention to buy eBay for $56 billion for a few days now. Given that the total value of GameStop does not exceed $6 billion and they generate less than $3.8 billion in annual gross revenue, this seemed like a completely unrealistic possibility. Something that has been confirmed by eBay in the most brutal way possible: saying that they do not consider it possible or realistic.
In fact, those have been the almost literal words of Paul Pressler, the chairman of the eBay shareholders’ board. “We have considered that your proposal is neither credible nor attractive” in one of the most forceful statements in the history of public negotiations. Continuing with a direct “the board, with the help of independent advisors, has studied your proposal and has decided to reject it.”
A baseless movement
This should not surprise us, because eBay is a giant worth over 17 million dollars, generating more than 11 million dollars annually. Thus quadrupling the value of GameStop.
Does this mean that Ryan Cohen is going to give up his dream of buying eBay and creating the ultimate competitor to Amazon? It doesn’t seem likely. The possibility of a hostile takeover still exists on paper. Even if it’s just to declare his intention, even if it’s impossible. But for now, it doesn’t seem like we’re going to hear more about the eBay matter.
The Pokémon Company reprints a Pikachu card that caused disturbances upon its release, ensuring that there will now be enough cards for everyone.
Part of the charm of collectible card games is that some cards are very hard to obtain. They are printed in limited runs, in special situations, and have a collector’s value rather than a playable one. Something that The Pokémon Company knows well, although sometimes they have gone overboard.
Last year, the company collaborated with the Van Gogh museum, which included an exclusive letter. A Pikachu painted in the style of the painter called Pikachu with Grey Felt Hat. The excitement was such at the time of its presentation on social media that the influx of visitors to the museum caused them to sell out almost instantly, leading to exorbitant prices in the resale market. Currently, they are reaching over $200 on eBay.
That’s why, according to Pokebeach, they have decided to reprint the card. Although only available in the Netherlands, anyone who spends more than €30 on Pokémon trading card game products at Bruna, Game Mania, Intertoys, Media Markt, Primera, Top1Toys or Smyths Toys Superstores stores in the country will receive a free copy of this unique card. While this leaves the rest of us out, it will undoubtedly lower the price of this desired collector’s item.
eBay has unveiled a game-changing feature that promises to redefine the online selling experience for both new and seasoned merchants. The eCommerce giant has harnessed the power of generative AI to introduce the eBay Magical Listing Tool.
This revolutionary solution allows sellers to create comprehensive product listings from a single image effortlessly.
eBay Magical Listing tool will empower sellers with AI
For anyone who’s ventured into the bustling marketplace of eBay, it’s no secret that the platform can sometimes resemble the Wild West of online shopping. Product listings can vary significantly, from vague descriptions to missing crucial details. However, eBay’s latest innovation is set to bring order to this digital frontier.
The eBay Magical Listing tool offers sellers the option to generate entire product listings using a single image, making it an invaluable asset for those who may find the intricacies of listing overwhelming. This AI-driven wizardry automates the process of creating a product title, crafting a description, specifying the item category, and providing other essential information that potential buyers seek.
A step into the future of eCommerce
While the concept of AI-generated listings may sound like something out of science fiction, eBay has made it a reality. Currently available exclusively on the iOS app, eBay has plans to expand this transformative tool to Android users in the coming weeks.
This move reflects eBay’s commitment to enhance the seller experience and streamline the selling process continually.
Enhancing consistency and efficiency
One of the immediate benefits of eBay’s Magical Listing Tool is the potential for greater consistency in product listings. No longer will buyers need to navigate through listings plagued with typos or incomplete information. Instead, AI-generated listings promise to deliver uniform, comprehensive, and informative product descriptions that benefit both sellers and buyers.
However, as with any technological innovation, there are aspects to consider. Some early adopters have experimented with eBay’s AI-generated listing tool and reported mixed results.
While the tool successfully generates descriptions, there have been concerns about the quality and relevance of the content.
The balance between automation and personalization
As one eBay enthusiast noted, the AI-generated descriptions produced by the tool sometimes appear stilted and rely on cliché language. These descriptions, while adding more words to listings, may not necessarily provide genuinely useful information that potential buyers are seeking.
In some cases, crucial details about an item’s condition or unique attributes may be omitted.
The human touch
It’s important to remember that while AI can undoubtedly streamline the listing process, individual sellers’ personal touch and expertise should not be underestimated.
Many eBay sellers have built trust with their buyers by promptly responding to inquiries and providing tailored information.
The future
In conclusion, eBay’s Magical Listing Tool represents an exciting leap into the future of online selling. By harnessing the capabilities of AI to automate the listing process, eBay aims to empower sellers while enhancing the overall shopping experience.
As this innovative tool evolves and matures, it will be interesting to see how sellers and buyers alike adapt to this new era of eCommerce. EBay enthusiasts can now explore this AI-driven feature on the iOS app and anticipate its imminent arrival on Android.
Whether it’s a game-changer or an evolving tool, eBay’s Magical Listing Tool is undeniably a significant step in the ever-evolving world of online commerce.
Need a hand installing that new purchase? eBay can help.
eBay recently announced a new partnership with three companies that would give customers the ability to book home install services along with their purchases.
Be it televisions, bikes, or a new dining set, there’s no need to worry about your ability to lift big boxes or work an Allen wrench into an impossibly small corner.
The online marketplace is expanding its offerings, adding an extra convenience for shoppers who don’t quite know their way around a physical toolbox.
eBay adds installation services to big purchases
How does it work?
Various product pages now host a drop-down menu that allows customers to select an assembly service from Handy, InstallerNet or Porch, adding the service to your purchase like a protection plan.
After you complete your purchase, someone from your chosen assembly service will contact you to set up an appointment.
Handy is an NY-based company that will handle things like TV mounting, furniture assembly, and setting up your smart home devices. Porch is based in Seattle and does roughly the same thing. And InstallerNet, a Massachusetts company, is a network of independent contractors you can use to coordinate consumer and commercial electronic installation.
We came across some online shoppers expressing concern over whether the platform would be using unlicensed freelancers a la TaskRabbit to perform the installs.
Handy’s site mentions that all professionals are background-checked and experienced, though there’s nothing on the site stating that these folks are licensed, bonded, and insured.
InstallerNet’s site is just plain confusing. For example, there’s little information and it reads like a business jargon algorithm put the whole thing together.
Installs are par for the course now
Home installs aren’t exactly an innovative move these days. Rather, it’s become a natural extension of the buyer journey, something users have increasingly come to expect.
REI, for example, offers installation services along with their purchases, and IKEA’s site allows you to pay extra for assembly. eBay itself has had a tire installation service available on the website since 2017.
However, what eBay has done well here is that they’ve streamlined the process—putting everything together on one page, turning a multi-stage process into something that can be done within a matter of clicks.
Amazon competitor once again?
The new service aims to compete with Amazon’s Home Services, and it appears to be a move to keep the company in the game—as Amazon expands its reach into more and more markets.
Interestingly, this announcement comes about a month later than eBay’s lawsuit against Amazon, where the auction site alleges that Amazon engaged in a scheme to poach eBay sellers by infiltrating its internal messaging system.
That said, eBay has been on a dramatic kick to revitalize and rebrand as a membership-fee-free go-to marketplace. CEO Devin Wenig is aiming high, using an influencer marketing strategy to grow its 175 million user base to 500M.
Wenig, however, doesn’t necessarily want to compete with Amazon, stating that he sees eBay as a destination for people can discover the things that they want, not necessarily the things they need.
While it’s unlikely that eBay will overtake Amazon, it’s nice to see that they’re making some changes that stand to boost the customer experience.
eBay is still one of the best resources we have to sell things, both new and old, for a fraction of the market price. Even with competitors like OfferUp and Letgo being successful, they’re on smaller scales. eBay is the OG for discounts and funky stuff that you can’t really find anywhere else.
Yesterday, eBay made a post in its blog that the old dog was learning new tricks by launching a new program: Instant Selling for smartphones.
The program could bring in a huge amount of traffic to a website that’s still holding its own after 23 years of business. Instant Selling allows you to sell old smartphones and get paid for them almost immediately. The seller doesn’t have to set a price to create a listing, eBay does all of that for you. In a few minutes, you’ll enter the model of your phone and if it is eligible, you can trade it in for what eBay says is an offer that could be nearly 40% higher than most phone retailers.
The proof is in the pudding, and eBay has the facts to back it up:
“A recent study commissioned by eBay found that while a majority of Americans (61%) have never sold or traded a smartphone that they no longer use, 2 in 5 (40%) have two or more unused smartphones currently in their home. That could equal potentially hundreds of dollars left on the table which could be applied toward a new device upgrade or anything else on your wish list by shopping on eBay.”
Simple! To sell your phone, head over to eBay’s special website. Enter a few identifying factors like the model and condition and if it’s eligible to be sold, just upload a picture, and it’s listed instantly. The only thing left for you to do is print out a shipping label, and eBay creates that for you as well. Probably the easiest thing you’ll do all day.
For those thinking that this is just too good to be true, payment does come in the form of an eBay voucher – not cash. With that said, in this age where instant gratification is the name of the game, eBay’s come up with something really useful and we’re looking forward to see how it takes off.
