Heaptalk, Jakarta — eBay Inc., an e-commerce platform provider, has acquired Caramel, an end-to-end online automotive transaction service provider, to expand the digital transaction experience for used cars (01/13). Both parties signed a definitive agreement on January 11, 2025, with the closing expected to occur in Q1.
Caramel is a startup that assists car sellers and buyers with the final steps of the transaction, including paperwork, ownership transfer, financing, and transportation. Its service includes transacting on the site or app through an independent dealer, multiple marketplaces, and auction partners. This startup was founded in 2021 and is headquartered in Los Angeles, CA.
Currently, eBay Motors sells a range of auto parts and accessories. With this acquisition, the e-commerce giant aims to deliver a safe and trusted online platform for vehicle purchases. Caramel’s platform is expected to simplify buying and selling vehicles on eBay, regardless of which US state the cars and the buyer is located in.
Creating trust for vehicle buyers
Chris Prill, General Manager at eBay Motors, said this acquisition is about creating trust for vehicle buyers. Prill stated, “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.”
According to Edward Brojerdi, Caramel’s co-CEO and co-founder, eBay is the ideal partner for Caramel because its entire purpose is to reinvent the future of e-commerce for enthusiasts, connect people, and build communities. Brojerdi said, “I am excited that our team and innovative technology will improve the car-buying experience for even more vehicle enthusiasts in the US.”
Aligned with that, Craig Nehamen, Caramel’s co-CEO and co-founder, conveyed that 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,” Nehamen concluded.
