In advance of the opening of the NADA Convention & Expo, eBay announced it has acquired Cargigi — a provider of online advertising and marketing services — in a move designed to leverage Cargigi’s technology to help push dealers’ inventory onto eBay.com.
According to a blog entry eBay made on Wednesday, financial terms were not disclosed.
Executives indicated Cargigi will replace eBay’s Dealer Center, providing sellers with the tools needed to streamline and enhance the vehicle selling process. They mentioned the addition of Cargigi will also enable eBay to build out its structured data capabilities for the vehicles industry.
Jay Hanson, vice president of merchandising of hard goods at eBay, said, “eBay continues to enable commerce through technology.
“With Cargigi’s state-of-the-art technology, our eBay Motors dealers will be able to easily grow and manage their business, and, importantly, create the best shopping experience for buyers,” Hanson continued.
Cargigi was founded in in 2009 by Tony Hoang. Prior to Cargigi, Hoang founded CDMdata, an automotive data collection and marketing company that was acquired by Kelley Blue Book.
Hoang and his team of more than 30 employees, including engineers and designers, will join the eBay Motors business unit.
“Cargigi was built with passion and a spirit of innovation that has helped power its success over the years. After making a significant impact on the automotive sector early on, Cargigi quickly became one of the top classified marketing service providers for thousands of dealerships nationwide. As Cargigi has continued to scale, it has remained singularly focused on innovating and creating great products,” Hoang said.
“With the company’s strong automotive DNA, Cargigi has evolved into a vertical support platform for major automotive classified websites globally,” he continued. “As an integral part of the eBay Motors vehicles business, Cargigi will bring greater value to its U.S. sellers and enhance the experience for eBay vehicles sellers.”