eBay Snaps Up Caramel

<p>eBay Inc&period; has signed an agreement to acquire Caramel&comma; an end-to-end online automotive transaction solution provider&period; Terms weren&&num;8217&semi;t revealed&period; Caramel’s technology platform provides a secure and seamless digital transaction experience that handles all of the complexities of a vehicle sale&comma; including paperwork&comma; ownership transfer&comma; financing&comma; transportation and more&comma; whether transacting on Caramel&&num;8217&semi;s site or app&comma; through an independent dealer&comma; or via Caramel&&num;8217&semi;s multiple marketplace and auction partners&period;<&sol;p>&NewLine;<p>Caramel was founded in 2021 and is headquartered in Los Angeles<&sol;p>&NewLine;<p>eBay Motors is the destination for enthusiasts looking to find a huge selection of auto parts and accessories&comma; and this acquisition provides eBay buyers with a safe and trusted online platform to conduct vehicle purchases&period; The addition of Caramel will make buying and selling vehicles on eBay more simple than ever&comma; regardless of which US state the vehicle and the buyer are located in&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;eBay’s acquisition of Caramel is about creating trust for vehicle buyers&period; Buying a car is a big moment&period; Caramel&&num;8217&semi;s platform brings it all into one simple&comma; seamless process&colon; title and identity verification&comma; insurance&comma; financing – even shipping the car to the buyer after purchase&comma;” said Chris Prill&comma; General Manager&comma; eBay Motors&period; &OpenCurlyDoubleQuote;With Caramel and eBay combining forces&comma; both buyers and sellers will be able to complete vehicle transactions on eBay with greater peace-of-mind&comma; and Caramel can further establish itself across a myriad of platforms&period;”<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;We founded Caramel to digitize and simplify the used vehicle purchase process&period; Our platform has assisted the most prominent used vehicle marketplaces and auction sites in delivering a fully digital e-commerce experience&comma;” said Edward Brojerdi&comma; CEO and co-founder&comma; Caramel&period; &OpenCurlyDoubleQuote;eBay is the ideal partner for Caramel&comma; because its entire purpose is to reinvent the future of ecommerce for enthusiasts&comma; connect people and build communities&period; I am excited that our team and innovative technology will improve the car buying experience for even more vehicle enthusiasts in the US&period;”<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;Caramel set out to make buying or selling a vehicle online as simple and convenient as buying or selling anything else online&comma; minimizing fraud and risk&comma; and all with just a few clicks or taps&period; Joining with eBay will enable us to continue bringing our seamless&comma; safe solution to our current customers and new customers alike&comma;” said Craig Nehamen&comma; CEO and co-founder&comma; Caramel&period;<&sol;p>&NewLine;<p>&nbsp&semi;<&sol;p>&NewLine;