SidelineSwap, an online marketplace for new and used sporting goods has announced it has received investment from eBay Ventures, which it plans to use to expand its trade-in platform.
The company, which launched in 2015, enables resale both through its peer-to-peer online marketplace and through its trade-in partnerships with retailers and brands. Its Trade-in Platform includes pop-up events, in-store and online trade-in options as well as several tools that resellers can use to power their own trade-in experiences, the company said.
The hybrid model, which includes peer-to-peer and first-party sales, gives sellers the option to choose either direct resale or instant trade-in value. For eBay, the collaboration is seen as a way to further strengthen its presence in the recommerce market.
“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,” said Dawn Block, eBay’s VP of Collectibles, Electronics and Home.
She added: “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.”
Recent figures show that the global market for second hand goods is set to jump to $350 billion by 227 and reach $70 billion in the U.S. as more retailers get in on the resale trend. The latest funding for SidelineSwap follows an investment it received from DSG Ventures, the corporate venture arm of Dick’s Sporting Goods, which was announced in November 2022.
Brendan Candon, Co-founder and CEO of SidelineSwap added: “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.”
