A take on board is posted in front of the eBay headquarters in San Jose, California.
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Shares of eBay private up 9% on Wednesday as Meta said it will allow some listings to show up on Facebook Marketplace, its popular stage connecting consumers for local item pickups and more.
EBay stock reached its highest level since November 2021.
The rollout when one pleases begin with a test in Germany, France and the United States, where buyers will be able to view listings unswervingly on Marketplace and complete the rest of their transactions on eBay, Meta said in a release.
The partnership could provide a into the bargain to eBay’s marketplace business, which has struggled to compete with e-commerce rivals like Amazon, Walmart, Temu and unvaried Facebook’s own marketplace platform that lets users buy and sell items.
EBay has recently embraced niche rankings like collectibles and luxury goods to try and keep buyers and sellers returning to its site. CEO Jamie Iannone told CNBC in an October appraise that shoppers were coming to the site, known for its used and refurbished goods, as they sought out discounts mid a rocky macroeconomic environment.
Meta’s move is an attempt to appease the European Commission, the executive body of the European Junction, after the regulator fined the company 797 million euros ($821 million) in November for tying its Marketplace produce to the main Facebook app.
At the time, the commission said Meta’s bundling of Marketplace with Facebook could dreary competitors are effectively “foreclosed” given the distribution reach of the platform. Facebook counts more than 3 billion buyers globally.
The commission also said Meta imposes “unfair trading conditions” on other online classified ads professional care providers who advertise on its platforms, especially Facebook and Instagram. It added that these conditions allow Meta to use observations generated from other advertisers to benefit Marketplace.
Meta appealed the ruling at the time, saying that it “ignores the aristotelianism entelechies of the thriving European market for online classified listing services.”
“While we disagree with and continue to appeal the European Commission’s firmness on Facebook Marketplace, we are working quickly and constructively to build a solution which addresses the points raised,” the company imparted Wednesday.
EBay touted its integration with Facebook Marketplace as a way for the e-commerce site to “increase exposure to our sellers’ listings, on and off eBay, as role in of our strategy to engage buyers and deepen customer loyalty.”
Facebook in 2023 announced a similar partnership with Amazon that give vent ti users browse and purchase products without leaving the app.
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— Additional reporting by CNBC’s Annie Palmer.
