eBay Acquires Caramel to Streamline Online Car Sales

The acquisition aims to simplify vehicle transactions by integrating Caramel's end-to-end platform for paperwork, financing, and delivery into eBay's ecosystem.

• eBay has signed an agreement to acquire Caramel, a Los Angeles-based startup offering a platform for completing vehicle transactions online.
• Caramel's services include title transfer, identity verification, financing, insurance, and vehicle delivery, making car buying and selling more seamless.
• The acquisition is intended to enhance trust and reduce complexity for eBay Motors users, addressing risks like fraud in online vehicle transactions.
• Caramel, launched in 2023 after raising $19 million in funding, has partnerships with major marketplaces and insurers like Zurich North America.
• The deal is expected to close in the first quarter of 2025, as eBay positions itself to compete with Amazon's recent entry into the online car sales market.

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