eBay (EBAY)
Third-party marketplaces for general merchandise, enthusiast categories and fashion resale.
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eBay is a marketplace for other people's things. Millions of sellers list, buyers buy, and eBay takes a cut of every sale while owning none of the goods. The sprawling general-merchandise half still pays most of the bills and barely grows. The company's bet is a deliberate narrowing onto the things people hunt for — trading cards, car parts, secondhand clothes — plus selling ads and delivery to its own sellers.
Item facts: FY2025 (Dec-end) + H1 FY2026 filings, from filings, earnings calls and company pages.
Judgment weights, not filed revenue
The band summarizes business focus and direction. ~ marks estimates.
7 in detail · 17 more below
Core Marketplace
Electronics, home and garden, toys, media — everything outside the four categories eBay is pushing. It is the biggest pool of fees and the slow half, growing roughly 6% against about 26% for the focused categories.
Competes with Amazon Marketplace (Amazon) · Walmart Marketplace (Walmart) · Vinted marketplace (Vinted (private))
In plain English
Picture a car-boot sale the size of a country, open all night. Millions of people list a phone charger, a lamp, a used camera; other people buy them; eBay never touches the box. It runs the listings, the search, the checkout and the rules about who to trust.
When something sells, eBay clips a percentage of the price, then sells the seller extras on the same transaction — postage bought through eBay, payment handling. Across the whole marketplace roughly $80 billion of goods changed hands in 2025, and close to fourteen cents of every dollar stayed with eBay. This end of it, the ordinary stuff nobody hunts for, is where most of that money still comes from.
eBay Ads
Sellers paying to have their own listings shown first. Just under $2 billion in 2025, and the steadiest climb in the mix — about 17% of revenue in early 2025, 19% by mid-2026. Watch how far it spreads across listings.
Competes with Sponsored Products (Amazon Ads) · Walmart Connect (Walmart) · Etsy Ads (Etsy)
In plain English
Every seller wants to be near the top of the page. eBay sells that spot back to them: pay a slice extra and your bike or your handbag appears ahead of the identical one sitting next to it.
Sellers are bidding against each other here, not against big brand budgets, so the money comes from the same people already paying sales fees — which is why it stacks neatly on top of everything else happening on the site. Roughly half of listings now carry a paid promotion, so growth means selling it to the other half and earning a little more per click.
Collectibles
Trading cards first, then coins, comics, toys and memorabilia — the category management leads with every quarter. The hunted-for categories it anchors grew about 26% last quarter. Hobby cycles swing it: bullion lifted sales for two quarters, then faded.
Competes with Live collectibles auctions (Whatnot (private)) · Fanatics Collect (Fanatics) · Sports-card auctions (Heritage Auctions (private))
In plain English
A Pokémon card, an old coin, a signed shirt. These are things where the buyer cares enormously whether the item is genuine and what condition it is in, and that doubt is what keeps people off a stranger's listing.
So eBay checks for them. Its authentication service inspects trading cards before they reach the buyer at no cost to the buyer, and reached UK cards this year; a phone tool that scans a card to identify it has passed 80 million scans. The fee on a sale is the same as anywhere else on the site, but the prices are higher and the buyers come back — 16 million enthusiast buyers spend around $3,600 a year.
eBay Live
Sellers auctioning cards and clothes on a live video stream, in seven markets. eBay won't give its size, but it grew roughly eightfold in a year off a small base. Whatnot is far bigger, holding around 60% of live selling in North America and Europe.
Competes with Whatnot live shopping (Whatnot (private)) · TikTok Shop live (ByteDance) · Amazon Live (Amazon)
In plain English
Home-shopping television, rebuilt inside a phone. A seller points a camera at a box of trading cards, opens them one at a time, and viewers bid while the stream runs.
eBay takes its usual cut of whatever sells, and the format earns its keep twice over: more than nine in ten regular streaming sellers grow their total eBay sales, at roughly three times the pace of comparable sellers who never stream. Until July 2026 you had to be invited to stream; eligible US sellers can now switch it on themselves, which is how the number of streamers is meant to grow. Fees here run lower than the site average.
Fashion, Luxury and Recommerce
Clothes, trainers, handbags and watches, new and used — more than $10 billion of goods a year, much of it people selling out of their own wardrobes. Vinted is growing much faster and landed in the US in January 2026.
Competes with Vinted resale marketplace (Vinted (private)) · Poshmark (Naver) · Authenticated luxury consignment (The RealReal)
In plain English
The clothes hanging unworn in everyone's wardrobe are, added up, an enormous pile of stock nobody had to manufacture. eBay's job is to get that stock listed, photographed and posted cheaply enough that selling one cheap dress is worth the bother.
It earns a commission on each item, and it competes on doubt. A free authentication check now covers handbags, watches and more than a hundred clothing, footwear and accessory brands in the US and UK, so someone paying real money for a designer coat is not guessing. Affordable postage is the other half of the problem — in the UK, eBay arranges the delivery itself.
Depop
A phone-first secondhand clothing app with a young following, bought from Etsy and closed at $1.4 billion in July 2026. About $1 billion of goods sold through it in 2025. It costs eBay profit until 2028.
Competes with Vinted C2C fashion (Vinted (private)) · Grailed streetwear resale (Grailed (private)) · Sneaker resale marketplace (StockX (private))
In plain English
Depop is where people in their teens and twenties sell each other clothes — old jackets, worn-in T-shirts — in an app built around that generation and priced for it. eBay bought it from Etsy and is deliberately leaving it standing as its own brand.
It makes money the way the parent does, on a cut of each sale. The catch is the price of entry: eBay paid $1.4 billion, is spending on cross-promotion and cheaper postage for Depop's sellers, and says the deal will hold back profit and per-share earnings this year before it adds anything in 2028.
eBay Motors
Car parts — which management has called its largest category — plus a newer business selling whole vehicles. Motors added nearly 2 points of eBay's sales growth last quarter. Vehicles carry a thinner fee, so they lift goods sold faster than revenue.
Competes with Amazon Automotive (Amazon) · RockAuto parts catalogue (RockAuto (private)) · Online vehicle buying (Carvana)
In plain English
A brake light fails on a ten-year-old hatchback. The part exists somewhere, in a warehouse or a scrapyard; the hard bit is knowing it fits that exact car. eBay keeps the fitment data that answers the question and backs it with a guarantee, now live in a fifth market.
Selling whole cars is the newer half. A buyer and a private seller agree a price, and eBay handles the paperwork, the title check and the money, in all fifty US states. Software checking titles and vehicle numbers has cut the wait before pickup from over two weeks to about four days. eBay earns a fee either way; the one on a car is thinner.
Core MarketplaceElectronics, home and garden, toys, media — everything outside the four categories eBay is pushing. It is the biggest pool of fees and the slow half, growing roughly 6% against about 26% for the focused categories.Electronics, home and garden, toys, media — everything outside the four categories eBay is pushing. It is the biggest pool of fees and the slow half, growing roughly 6% against about 26% for the focused categories.
In plain English
Picture a car-boot sale the size of a country, open all night. Millions of people list a phone charger, a lamp, a used camera; other people buy them; eBay never touches the box. It runs the listings, the search, the checkout and the rules about who to trust.
When something sells, eBay clips a percentage of the price, then sells the seller extras on the same transaction — postage bought through eBay, payment handling. Across the whole marketplace roughly $80 billion of goods changed hands in 2025, and close to fourteen cents of every dollar stayed with eBay. This end of it, the ordinary stuff nobody hunts for, is where most of that money still comes from.
Competes with Amazon Marketplace (Amazon) · Walmart Marketplace (Walmart) · Vinted marketplace (Vinted (private))
eBay AdsSellers paying to have their own listings shown first. Just under $2 billion in 2025, and the steadiest climb in the mix — about 17% of revenue in early 2025, 19% by mid-2026. Watch how far it spreads across listings.Sellers paying to have their own listings shown first. Just under $2 billion in 2025, and the steadiest climb in the mix — about 17% of revenue in early 2025, 19% by mid-2026. Watch how far it spreads across listings.
In plain English
Every seller wants to be near the top of the page. eBay sells that spot back to them: pay a slice extra and your bike or your handbag appears ahead of the identical one sitting next to it.
Sellers are bidding against each other here, not against big brand budgets, so the money comes from the same people already paying sales fees — which is why it stacks neatly on top of everything else happening on the site. Roughly half of listings now carry a paid promotion, so growth means selling it to the other half and earning a little more per click.
Competes with Sponsored Products (Amazon Ads) · Walmart Connect (Walmart) · Etsy Ads (Etsy)
CollectiblesTrading cards first, then coins, comics, toys and memorabilia — the category management leads with every quarter. The hunted-for categories it anchors grew about 26% last quarter. Hobby cycles swing it: bullion lifted sales for two quarters, then faded.Trading cards first, then coins, comics, toys and memorabilia — the category management leads with every quarter. The hunted-for categories it anchors grew about 26% last quarter. Hobby cycles swing it: bullion lifted sales for two quarters, then faded.
In plain English
A Pokémon card, an old coin, a signed shirt. These are things where the buyer cares enormously whether the item is genuine and what condition it is in, and that doubt is what keeps people off a stranger's listing.
So eBay checks for them. Its authentication service inspects trading cards before they reach the buyer at no cost to the buyer, and reached UK cards this year; a phone tool that scans a card to identify it has passed 80 million scans. The fee on a sale is the same as anywhere else on the site, but the prices are higher and the buyers come back — 16 million enthusiast buyers spend around $3,600 a year.
Competes with Live collectibles auctions (Whatnot (private)) · Fanatics Collect (Fanatics) · Sports-card auctions (Heritage Auctions (private))
eBay LiveSellers auctioning cards and clothes on a live video stream, in seven markets. eBay won't give its size, but it grew roughly eightfold in a year off a small base. Whatnot is far bigger, holding around 60% of live selling in North America and Europe.Sellers auctioning cards and clothes on a live video stream, in seven markets. eBay won't give its size, but it grew roughly eightfold in a year off a small base. Whatnot is far bigger, holding around 60% of live selling in North America and Europe.
In plain English
Home-shopping television, rebuilt inside a phone. A seller points a camera at a box of trading cards, opens them one at a time, and viewers bid while the stream runs.
eBay takes its usual cut of whatever sells, and the format earns its keep twice over: more than nine in ten regular streaming sellers grow their total eBay sales, at roughly three times the pace of comparable sellers who never stream. Until July 2026 you had to be invited to stream; eligible US sellers can now switch it on themselves, which is how the number of streamers is meant to grow. Fees here run lower than the site average.
Competes with Whatnot live shopping (Whatnot (private)) · TikTok Shop live (ByteDance) · Amazon Live (Amazon)
Fashion, Luxury and RecommerceClothes, trainers, handbags and watches, new and used — more than $10 billion of goods a year, much of it people selling out of their own wardrobes. Vinted is growing much faster and landed in the US in January 2026.Clothes, trainers, handbags and watches, new and used — more than $10 billion of goods a year, much of it people selling out of their own wardrobes. Vinted is growing much faster and landed in the US in January 2026.
In plain English
The clothes hanging unworn in everyone's wardrobe are, added up, an enormous pile of stock nobody had to manufacture. eBay's job is to get that stock listed, photographed and posted cheaply enough that selling one cheap dress is worth the bother.
It earns a commission on each item, and it competes on doubt. A free authentication check now covers handbags, watches and more than a hundred clothing, footwear and accessory brands in the US and UK, so someone paying real money for a designer coat is not guessing. Affordable postage is the other half of the problem — in the UK, eBay arranges the delivery itself.
Competes with Vinted resale marketplace (Vinted (private)) · Poshmark (Naver) · Authenticated luxury consignment (The RealReal)
DepopA phone-first secondhand clothing app with a young following, bought from Etsy and closed at $1.4 billion in July 2026. About $1 billion of goods sold through it in 2025. It costs eBay profit until 2028.A phone-first secondhand clothing app with a young following, bought from Etsy and closed at $1.4 billion in July 2026. About $1 billion of goods sold through it in 2025. It costs eBay profit until 2028.
In plain English
Depop is where people in their teens and twenties sell each other clothes — old jackets, worn-in T-shirts — in an app built around that generation and priced for it. eBay bought it from Etsy and is deliberately leaving it standing as its own brand.
It makes money the way the parent does, on a cut of each sale. The catch is the price of entry: eBay paid $1.4 billion, is spending on cross-promotion and cheaper postage for Depop's sellers, and says the deal will hold back profit and per-share earnings this year before it adds anything in 2028.
Competes with Vinted C2C fashion (Vinted (private)) · Grailed streetwear resale (Grailed (private)) · Sneaker resale marketplace (StockX (private))
eBay MotorsCar parts — which management has called its largest category — plus a newer business selling whole vehicles. Motors added nearly 2 points of eBay's sales growth last quarter. Vehicles carry a thinner fee, so they lift goods sold faster than revenue.Car parts — which management has called its largest category — plus a newer business selling whole vehicles. Motors added nearly 2 points of eBay's sales growth last quarter. Vehicles carry a thinner fee, so they lift goods sold faster than revenue.
In plain English
A brake light fails on a ten-year-old hatchback. The part exists somewhere, in a warehouse or a scrapyard; the hard bit is knowing it fits that exact car. eBay keeps the fitment data that answers the question and backs it with a guarantee, now live in a fifth market.
Selling whole cars is the newer half. A buyer and a private seller agree a price, and eBay handles the paperwork, the title check and the money, in all fifty US states. Software checking titles and vehicle numbers has cut the wait before pickup from over two weeks to about four days. eBay earns a fee either way; the one on a car is thinner.
Competes with Amazon Automotive (Amazon) · RockAuto parts catalogue (RockAuto (private)) · Online vehicle buying (Carvana)
Named in filings, launches and programs
- TCGplayerBrandSeparate marketplace for single trading cards; Pokémon, One Piece and Magic: The Gathering drove its strength in the June 2026 quarter.
- GoldinBrandCollectibles auction house bought in 2024; added Studio Auctions in 2025 and posted a record June 2026 quarter.
- eBay International ShippingServiceeBay handles cross-border delivery for US and Canadian sellers to 190-plus countries; launched in the UK in August 2026.
- SpeedPAKEcosystemShared cross-border delivery venture serving sellers in Greater China and Japan, extended to German business sellers.
- Managed payments, Pay by Bank and eBay BalanceServiceeBay processes the money itself. Pay-by-bank transfers ramped in the UK, where those orders run about twice the site's average basket.
- Klarna partnershipCustomer programPay-later financing offered to US buyers; the growth it added has been lapping since the June 2026 quarter.
- Seller CapitalCustomer programWorking-capital loans to sellers, funded by partners rather than eBay; more than $1B advanced since 2021.
- Qoo10 JapanBrandeBay's Japanese marketplace, sitting off the main site and helping drive off-platform advertising up 21% in the June 2026 quarter.
- eBay RefurbishedProduct lineA destination on the site for verified refurbished goods — one of the four categories eBay is pushing; roughly 2% of goods sold.
- TiseBrandOslo-based app for swapping pre-loved fashion, bought in October 2025; worth about a tenth of a point of one quarter's growth in goods sold.
- Authenticity GuaranteeServiceeBay inspects cards, luxury goods and 100-plus clothing brands before delivery, free to the buyer — the trust layer under collectibles and fashion.
- Secure PurchasePlatformThe vehicle checkout eBay bought with Caramel in 2025: title, payment and paperwork handled online in all fifty US states.
- CertilogoProductMilan-based product-authentication technology for fashion, acquired to tell genuine garments from fakes.
- myFitmentServiceThe data that matches a car part to the exact vehicle it fits, sitting behind parts search.
- Aladin SystemsBrandUK software for scrapyards, bought in early 2026 to pull recycled car parts onto the marketplace.
- Magical ListingPlatformSoftware that drafts a seller's listing for them; extended to new and returning sellers in the UK, Germany and Australia.
- Unified agentic commerce platformProduct · AnnouncedAnnounced plumbing to let outside shopping assistants, including ones from OpenAI, talk to eBay's own. Management has barely mentioned it since.
TCGplayerBrand
Separate marketplace for single trading cards; Pokémon, One Piece and Magic: The Gathering drove its strength in the June 2026 quarter.
GoldinBrand
Collectibles auction house bought in 2024; added Studio Auctions in 2025 and posted a record June 2026 quarter.
eBay International ShippingService
eBay handles cross-border delivery for US and Canadian sellers to 190-plus countries; launched in the UK in August 2026.
SpeedPAKEcosystem
Shared cross-border delivery venture serving sellers in Greater China and Japan, extended to German business sellers.
Managed payments, Pay by Bank and eBay BalanceService
eBay processes the money itself. Pay-by-bank transfers ramped in the UK, where those orders run about twice the site's average basket.
Klarna partnershipCustomer program
Pay-later financing offered to US buyers; the growth it added has been lapping since the June 2026 quarter.
Seller CapitalCustomer program
Working-capital loans to sellers, funded by partners rather than eBay; more than $1B advanced since 2021.
Qoo10 JapanBrand
eBay's Japanese marketplace, sitting off the main site and helping drive off-platform advertising up 21% in the June 2026 quarter.
eBay RefurbishedProduct line
A destination on the site for verified refurbished goods — one of the four categories eBay is pushing; roughly 2% of goods sold.
TiseBrand
Oslo-based app for swapping pre-loved fashion, bought in October 2025; worth about a tenth of a point of one quarter's growth in goods sold.
Authenticity GuaranteeService
eBay inspects cards, luxury goods and 100-plus clothing brands before delivery, free to the buyer — the trust layer under collectibles and fashion.
Secure PurchasePlatform
The vehicle checkout eBay bought with Caramel in 2025: title, payment and paperwork handled online in all fifty US states.
CertilogoProduct
Milan-based product-authentication technology for fashion, acquired to tell genuine garments from fakes.
myFitmentService
The data that matches a car part to the exact vehicle it fits, sitting behind parts search.
Aladin SystemsBrand
UK software for scrapyards, bought in early 2026 to pull recycled car parts onto the marketplace.
Magical ListingPlatform
Software that drafts a seller's listing for them; extended to new and returning sellers in the UK, Germany and Australia.
Unified agentic commerce platformProduct · Announced
Announced plumbing to let outside shopping assistants, including ones from OpenAI, talk to eBay's own. Management has barely mentioned it since.