Online marketplace for new and used sporting goods SidelineSwap has secured investment from eBay Ventures.
The news comes after the 2022 announcement of another investment in SidelineSwap by Dick’s Sporting Goods’ corporate venture arm DSG Ventures.
SidelineSwap’s trade-in platform includes pop-up events, in-store and online trade-in options for brands and retailers, as well as a suite of tools for resellers in the SidelineSwap community to power their own trade-in experiences. The marketplace was launched in 2015.
The financing round also includes participants such as FJ Labs, DSG Ventures and several angel investors.
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.”
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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 said it will use the investment to expand its trade-in platform and the marketplace as a whole, boosting its position as a major online marketplace for sports goods.
eBay had previously announced a grant scheme to help small businesses maintain growth while consumers cut back on spending.