eBay acquires the GiftsProject and Opening Social Center in Israel

eBay acquired Israeli startup The GiftsProject for an undisclosed sum, according to AllthingsD. Founded in 2009, The GiftsProject has created a social commerce application, enabling users to vote, comment and buy a gift together as a group. Back in February, the GiftsProject announced a partnership with eBay as well as $1 million seed round from Gemini and Index ventures. Seed funding was provided a year earlier by Yossi Vardi. Now The Gifts Project will become eBay’s Israel Social Center, reporting to Don Bradford, the VP of social commerce who joined eBay in May.

In a recent interview to VC Cafe, Ron Gura, co-founder and CEO of GiftsProject explained that the main value proposition to e-retailers is that his offering “makes the purchase completion rate as high as possible”. Which is possibly what eBay has in store for it’s new Israeli addition, which will be working on building social shopping platforms and product features for eBay Marketplaces.

The GiftsProject is the fourth exit coming out of the Zell Entrepreneurship Program of IDC Israel (disclaimer: I’m an alumnus of the program), following the sale of Ron’s brother’s companies Picscout and PicApp and the acquisition of Dror Ceder’s Wibiya by Conduit. Other Zell startups include Wibbitz (who announced seed funding from Roi Carthy yesterday) and Bizzabo.

More as the deal details unfold…

 

Eze Vidra
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Eze Vidra

Chief Innovation Officer at Antidote
Eze is the Chief Innovation Officer at Antidote, a startup helping patients search and match to clinical trial, to accelerate medical breakthroughs. Previously, Ezewas a General Partner at Google Ventures Europe. Before GV, Eze founded and led Campus London, Google's first physical hub for startups, and was the Head Google for Entrepreneurs in Europe. He's an experienced product manager and startup mentor. In 2012 Eze founded Techbikers, a non-for profit supporting children education in developing countries.
Eze Vidra
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Eze Vidra

Eze is the Chief Innovation Officer at Antidote, a startup helping patients search and match to clinical trial, to accelerate medical breakthroughs. Previously, Eze was a General Partner at Google Ventures Europe. Before GV, Eze founded and led Campus London, Google's first physical hub for startups, and was the Head Google for Entrepreneurs in Europe. He's an experienced product manager and startup mentor. In 2012 Eze founded Techbikers, a non-for profit supporting children education in developing countries.

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