eBay acquires Cargigi to improve tech for auto dealers
eBay recently announced that the company is acquiring Cargigi, an auto industry technology company, a large provider of advertising and marketing services on a number of popular free classified websites.
Deal terms were not revealed, though eBay described the acquisition as “small.” Cargigi’s team of 30 will join eBay, and the product itself will replace eBay’s Dealer Center. According to eBay, the full integration is expected to be finalized by the end of 2016.
The company is interested in using the technology Cargigi developed to help onboard auto dealers’ inventory onto eBay’s website. In addition to replacing eBay’s own Dealer Center product, Cargigi will help enable eBay to “build out its structured data capabilities for the vehicles industry.”
Though not a consumer-facing brand, Cargigi had developed technology that helped dealers more easily get their ads in front of online users, including tools that help market autos on Craigslist and other websites, through postings and ads, as well as on other social media, like Facebook and YouTube. Dealers also could access analytics to see how well their ads performed, plus use tools to monitor competitors, manage their own inventory and enhance the photos used in their listings.
In a statement, Tony Hoang, who served as Cargigi’s CTO, said with the company’s strong automotive DNA, Cargigi has evolved into a vertical support platform for major automotive classified websites globally. “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,” he added.