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eBay Inc (NASDAQ: EBAY) has announced a strategic partnership and investment in bidadoo, an online remarketing and auction company of equipment, trucks, and capital assets. The financial terms of the arrangement were not disclosed.
eBay and bidadoo will meet customers' needs through this partnership by leveraging technology, data, and expertise to deliver end-to-end solutions and value.
Through bidadoo, eBay buyers will have access to used construction equipment from manufacturers, governments, rental companies, contractors, and financial institutions, supported by eBay's Business Equipment Protection Program.
eBay noted that every bidadoo equipment listing includes a detailed condition report, photos, and video demonstration.
The used Heavy Equipment market is estimated to be $50 billion - $60 billion in the U.S.
Price Action: EBAY shares are trading lower by 0.92% at $73.25 on the last check Thursday.
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