eBay Acquires 3PM Shield to Enhance AI Capabilities
eBay, a San Jose, CA based global eCommerce leader, has acquired 3PM Shield, which is a Chicago, IL based provider of AI driven advanced marketplace compliance solutions.
Though the terms of the deal were not disclosed, eBay officially announced that the acquisition took place on February 9, 2023.
The eCommerce giant believes that the acquisition will further enhance its monitoring capabilities to check the sale of counterfeit items, unsafe products and illegal goods on its platform which are a serious matter of concern for both the sellers and eBay itself.
According to an official statement of eBay, this deal is a part of eBay’s commitment to provide sellers and buyers with a safe and trusted platform enabled by technology. The technology provided by 3PM Shield will further enhance eBay’s ability to address suspicious or harmful seller behavior and potentially problematic items.
“It is a top priority to help ensure that eBay remains a safe and trusted environment for our global community of sellers and buyers, particularly to prevent counterfeits and unsafe or illegal products,” said Zhi Zhou, Chief Risk Officer at eBay.
“3PM Shield has been a valued and effective external partner in helping eBay tackle these challenges and we look forward to unlocking additional capabilities as we bring their technologies in-house,” he added.
Notably, counterfeit items are a major cause of concern for e-commerce sites. These items are often sold at lower prices than genuine items which harm the interest of genuine seller.
E-commerce platforms use various methods to prevent the sale of counterfeit items, such as automated detection algorithms, manual review processes, and partnerships with brand owners. AI is playing a crucial role in performing this gigantic task. But, despite such efforts, the unethical practices of some sellers can not bot stopped completely.
About eBay:
eBay is an online marketplace that connects buyers and sellers worldwide. Founded in 1995, eBay has grown to become one of the largest e-commerce platforms in the world, with over 185 million active buyers and over 1.3 billion live listings as of 2021. eBay offers a convenient and accessible platform for buying and selling a wide range of goods. While the platform has faced some challenges with counterfeit items and seller fraud, eBay has implemented various measures to address these issues and protect its users. Acquisition of 3PM Shield is its latest step to enhance the capabilities.
About 3PM Shield:
3PM Shield is the AI-driven next-generation brand protection and compliance software that is protecting buyer and seller trust. The company was founded to provide advanced eCommerce monitoring to protect trust in the buyer and seller relationship.
About ChannelMAX.NET :
ChannnelMAX.NET has been helping sellers on various eCommerce platforms since 2005. Some of the eCommerce platforms supported by ChannelMAX.NET are Amazon, Walmart, eBay and Shopify. ChannelMAX.NET has been an Amazon technology partner since 2007. Some of its key offerings include its pricing management tool, the ChannelMAX Repricer, FBA Refunds Management offering, RefundMAX, and ChannelMAX Remote Full-Time eCom Assistants to help its seller partners run their business. The ChannelMAX Repricer is available at the Amazon Appstore.