eBay to Acquire Caramel for Safer Online Vehicle Sales

eBay Inc. a global commerce leader that connects millions of sellers and buyers around the world, announced that it has signed a definitive agreement to acquire Caramel, an end-to-end online automotive transaction solution provider. Caramel’s innovative technology platform provides a secure and seamless digital transaction experience that handles all of the complexities of a vehicle sale, including paperwork, ownership transfer, financing, transportation and more, whether transacting on Caramel’s site or app, through an independent dealer, or via Caramel’s multiple marketplace and auction partners.

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eBay Motors is the destination for enthusiasts looking to find a huge selection of auto parts and accessories, and this acquisition provides eBay buyers with a safe and trusted online platform to conduct vehicle purchases. The addition of Caramel will make buying and selling vehicles on eBay more simple than ever, regardless of which US state the vehicle and the buyer are located in.

“eBay’s acquisition of Caramel is about creating trust for vehicle buyers. Buying a car is a big moment. Caramel’s platform brings it all into one simple, seamless process: title and identity verification, insurance, financing – even shipping the car to the buyer after purchase,” said Chris Prill, General Manager, eBay Motors. “With Caramel and eBay combining forces, both buyers and sellers will be able to complete vehicle transactions on eBay with greater peace-of-mind, and Caramel can further establish itself across a myriad of platforms.”

“We founded Caramel to digitize and simplify the used vehicle purchase process. Our platform has assisted the most prominent used vehicle marketplaces and auction sites in delivering a fully digital e-commerce experience,” said Edward Brojerdi, CEO and co-founder, Caramel. “eBay is the ideal partner for Caramel, because its entire purpose is to reinvent the future of ecommerce for enthusiasts, connect people, and build communities. I am excited that our team and innovative technology will improve the car buying experience for even more vehicle enthusiasts in the US.”

“Caramel set out to make buying or selling a vehicle online as simple and convenient as buying or selling anything else online, minimizing fraud and risk, and all with just a few clicks or taps. Joining with eBay will enable us to continue bringing our seamless, safe solution to our current customers and new customers alike,” said Craig Nehamen, CEO and co-founder, Caramel. 

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Source – Prnewswire