Ebay has faced stiff competition from Depop and Vinted in recent years
Ebay has snapped up a rival secondhand app in a bid to appeal to younger shoppers.
The online marketplace said it had bought Tise, a Norwegian marketplace for secondhand fashion and interior design items, but did not disclose the financial terms of the deal.
Ebay said the acquisition will ‘open the door to a vibrant community of Gen Z and Millennial enthusiasts’.
Tise is described as a ‘social marketplace’ with community features, including the ability to follow sellers and received personalised product recommendations.
It previously received investment from Ebay’s venture arm in 2022.
Ebay buys secondhand platform Tise in a bid to appeal to younger shoppers
‘This acquisition is a natural next step in our investment in Tise, which will allow us to accelerate Tise’s strategy and unlock new opportunities for innovation,’ said Ebay’s Oliver Klinck.
‘With Tise’s on-trend inventory, loyal community and social-first approach, we’ll strengthen Ebay’s [customer] offerings, and more deeply connect with the next generation of enthusiasts.’
Ebay has faced stiff competition in recent years, as consumers increasingly turn to Depop and Vinted.
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In response, it has changed its pricing structure to make it cheaper to buy and sell items. It scrapped its private selling fees in line with its rival fees, which charge a mandatory buyer protection fee on every item, instead of seller fees.
Ebay also introduced a buyer fee to be included with every purchase. Just months after its introduction in February, it slashed the fee from 75p per item to 10p and cut the percentage customers will pay on their items, excluding cars, motorcycles and vehicles, classified ads and property.
Now buyers pay 7 per cent of the item value up to £20, 4 per cent between £20 and £400, and 2 per cent of any portion from £300 to £4,000. There is no fee for the portion of the item price over £3,000.
Listings by business sellers do not have the compulsory buyer protection fee because sellers already pay fees for each of the items they sell.
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