Today, eBay Inc. (Nasdaq: EBAY), a global commerce leader that connects millions of buyers and sellers around the world, hosted its first investor day under Chief Executive Officer Jamie Iannone. The event featured presentations from global leaders across the business who shared details on eBay’s long-term growth strategy and previewed new features and products that will accelerate eBay’s tech-led reimagination.
“Over the past two years, we have fundamentally changed the trajectory of our marketplace. We have demonstrated we can improve customer satisfaction, accelerate our growth, help sellers thrive and attract and retain enthusiast buyers,” said Jamie Iannone, Chief Executive Officer at eBay. “We are building an eBay for the future by doubling down on what we do best – connecting sellers and buyers of non-new in season products. We see incredibly compelling growth potential in this market and believe it is our opportunity to win by sharpening our focus and continuing to create value through a tech-led reimagination of eBay. We have the right team and vision to deliver on our goals and continue returning value to our shareholders.”
Business Outlook
During today’s event, eBay provided an overview of its long-term outlook for continuing operations. The summary table below includes the company’s previously issued guidance for full year 2022 and the newly issued outlook for 2023 and 2024 shared at today’s event.
|
FY 2022 (unchanged) |
FY 2023 |
FY 2024 |
|
|
GMV |
-5 to -8% |
3 – 4% |
~5% |
|
Revenue |
0 – 3% |
5 – 6% |
7 – 8% |
|
Diluted Non-GAAP EPS |
$4.20 – $4.40 |
~10% |
~15% |
The Future of Collectibles
The market for trading cards and collectibles continues to accelerate, and eBay is the biggest trading platform for these investment categories. Today eBay announced the eBay Vault – a 31 thousand square foot, secure storage facility and digital marketplace for trading cards and collectibles, with plans to expand into luxury goods.
The eBay Vault will launch in the U.S. next quarter, and will provide peace of mind and convenience for the company’s millions of buyers and sellers. Once an item is in the eBay Vault, customers know their valuables are secure and “instant sale” becomes the new reality. Ownership can transfer from seller to buyer in a matter of seconds – without the need to re-authenticate, re-package or ship the item anywhere.
Keeping high-value inventory within the eBay ecosystem is significant for both buyers and sellers – and the Vault will make other planned features, like fractionalization and live commerce, possible for a wider audience. eBay is the only marketplace that can deliver this full suite of capabilities at scale, and signals the future of collecting. Within a few years, eBay expects the Vault will hold up to $3 billion in assets, making it one of the largest stores of non-governmental assets in the world.
Introducing eBay’s First Digital Wallet
eBay’s tech-led reimagination continues to underpin future growth plans. Since eBay completed the migration to its new payments platform, the company has been improving the user experience and creating value for customers. Now, eBay is launching its first digital wallet where customers can use proceeds from their sales to conveniently purchase their next item or pay their selling expenses.
A replay of today’s event and copies of the session presentations can be found at https://investors.ebayinc.com.
