US-based eBay announces Q3 results, sells remaining 66,000 shares in Amsterdam-based Adyen



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California-based eBay, an online marketplace connecting a global network of buyers and sellers, announced on Wednesday that it has sold its remaining stake of 66,000 shares in Dutch payment company Adyen for $120M. The company made this announcement in its Q3 2022 report. 

In 2018, eBay signed an agreement with Amsterdam-based fintech unicorn Adyen to become its main payments processing partner. 

As a part of the agreement, eBay was entitled to acquire a fixed number of shares in a series of four tranches (each a “Tranche”) for cash at a specified price per share upon the terms and conditions outlined in the warrant agreement.

Last year, the Amsterdam-based unicorn issued 403,724 shares following eBay exercising the first tranche of the warrant. 

eBay Q3 result

During Q3 2022, eBay said revenue came in at $2.4M, and Gross Merchandise Volume (GMV) was $17.7B. The e-commerce company has also returned more than $421M to shareholders, including $120M in cash dividends and $301M in share repurchases. The company also sold 27 per cent more ads, bringing in $249M in the quarter.

“Our third quarter results demonstrate significant progress against our long-term objectives and exceeded expectations for all key business metrics,” says Jamie Iannone, Chief Executive Officer at eBay. “I’m proud of our team and community for remaining resilient in a challenging macroeconomic environment. With the investments we’ve made in our tech-led reimagination, we’re able to provide even more opportunity and value to our customers during these difficult times.”

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According to the company’s forecast, Q4 revenue would be around $2.42B and $2.5B, warning of future uncertainties. 

The company has also made a couple of acquisitions, including TCGplayer, a technology platform for collectibles and one of the largest online marketplaces for trading card games, for a total deal value of up to approximately $295M in cash. 

The second acquisition is myFitment group of companies, which delivers the tools and support to help online automotive and powersports parts and accessories sellers thrive. 

“myFitment’s technology and platform provides powerful, easy-to-use, and affordable solutions that will elevate the user experience within parts and accessories, helping sellers to drive sales and avoid costly returns,” says the company.

eBay: What you need to know

Based out of California, eBay is an online marketplace connecting a global buyers and sellers network. Founded in 1995 by Pierre Omidyar, eBay features numerous products, from fashion, electronics, and motors to antiques, visual art, and stationery.

eBay partnered with Adyen to improve the customer experience on its Marketplace platform. In addition, PayPal, a long-time eBay partner, will be a payment option at checkout for eBay buyers until July 2023.

Adyen: What you need to know

Founded in 2006 by Pieter van der Does and Arnout Schuijff, Adyen is a payments platform providing end-to-end infrastructure that connects directly to Visa, Mastercard, and other payment methods. It offers payment services across online, mobile, and in-store channels.

The company is operational in the Netherlands, Brazil, Singapore, the UK, Canada, Australia, South Korea, Hong Kong, Mexico, China, New Zealand, Malaysia, India, Japan, and the US. Its customers include Facebook, Uber, Spotify, Casper, Bonobos, and L’Oréal.


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The editorial team of Silicon Canals brings you technology news from the European startup ecosystem. 

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