eBay Ventures has joined Dick's Sporting Goods in investing in SidelineSwap, a marketplace for pre-owned sporting goods and gear.
SidelineSwap, the premier online marketplace for new and used sporting goods, today announced a strategic investment from eBay Ventures, the corporate venture arm of global commerce leader eBay Inc. (Nasdaq: EBAY). SidelineSwap, which launched in 2015, enables resale wherever sports enthusiasts shop or play, both through its peer-to-peer online marketplace and through its trade-in partnerships with retailers and brands.
The eBay Ventures investment follows another recent investment in SidelineSwap by DSG Ventures, the corporate venture arm of Dick’s Sporting Goods, which was announced in November 2022. DSG Ventures, FJ Labs, and several angel investors are also participating in the round.
SidelineSwap’s Trade-in Platform includes pop-up events, in-store and online trade-in options for brands and retailers, and a suite of tools for resellers in the SidelineSwap community to power their own trade-in experiences. The Trade-in Platform is powered by SidelineSwap’s best-in-class marketplace technology and proprietary resale data, and represents the next generation of resale marketplaces. The hybrid model, which includes peer-to-peer and first-party sales, gives sellers the option to choose whatever works best for them – direct resale or instant trade-in value. Together, this ensures sporting goods customers can find a wide selection of gear at great prices on the marketplace.
Dawn Block, eBay's VP of Collectibles, Electronics and Home, said: "eBay is a pioneer of recommerce – the reselling of pre-loved goods – and it’s been a foundational element of our marketplace since day one. eBay Ventures’ investment in SidelineSwap represents our continued focus on circular economy and resale innovation, and our shared commitment to sustainability, affordability and best-in-class experiences for enthusiast buyers and sellers.”
Brendan Candon, Co-founder and CEO of SidelineSwap, shared his enthusiasm about working with eBay: "We’re excited about the eBay Ventures investment as it will help us to further shape the future of resale. Our team has long admired eBay as the pioneer in recommerce, and we are looking forward to working together to ensure sporting goods customers find the best selection of gear at the best prices."
SidelineSwap will use the investment to expand its trade-in platform and continue building the leading online marketplace in sports. This collaboration between eBay Ventures and SidelineSwap will empower both companies to better serve the sporting goods community.
eBay Ventures was launched in March 2022 as a a multi-stage investment firm with a global scope, focused on early-stage investments.
Their first investment was Norwegian second-hand marketplace Tise in July 2022.
That was followed by investments in UK-based luxury resale outlet Cudoni and digital fan experience platform Notable Live both in January 2023.
Sadly, the Cudoni investment did not pay off - just 3 months after raising £7.5 million ($9 million) in funding, the company announced it was going out of business effective immediately.