Ebay acquires AI tech company 3PM Studios
Ebay has announced the acquisition of AI-based solutions provider 3PM Shield as it looks towards the in-house technological development of its online marketplace.
The move comes as Ebay sets about enhancing its own monitoring solutions through the integration of new technologies that are designed to prevent counterfeit or unsafe sales.
In a release, Ebay’s chief risk officer, Zhi Zhou, said: “It is a top priority to help ensure that Ebay remains a safe and trusted environment for our global community of sellers and buyers, particularly to prevent counterfeits and unsafe or illegal products.
"3PM Shield has been a valued and effective external partner in helping Ebay tackle these challenges and we look forward to unlocking additional capabilities as we bring their technologies in-house."
Through 3PM Shield, Ebay hopes to provide users with a more trustworthy platform, using the company’s technology to tackle harmful behaviour.
3PM Shield’s founder and CEO, Robert Dunkel, added: "3PM Shield was founded to provide next-generation e-commerce monitoring to protect trust in the buyer and seller relationship.
"We're proud to partner with Ebay, and I am excited that Ebay’s investment will help us accelerate the impact of our cutting edge technology to combat counterfeits, unsafe products and illegal items."
Artificial intelligence has been increasingly adopted by marketplaces and brands over the past year to help inform on algorithms and personalise shopping experiences.
Details of the transaction have not been disclosed.