World of Good, a five-year old venture that connects artisans from developing communities with mainstream retail markets, has been working with eBay for the past few years, with the ecommerce giant essentially powering the company’s multi-seller marketplace for socially and environmentally responsible shopping.
This morning, World of Good announced that it is selling its wholesale division to GreaterGood/Charity USA, while eBay has moved to fully acquire its main brand and related assets. The terms of neither transaction were disclosed.
eBay’s acquisition of the World of Good brand results from a two-year long collaboration between the two companies. The online marketplace is said to host hundreds of sellers, with tens of thousands of products from 85 countries at present day.
GreaterGood/Charity USA has basically purchased World of Good’s entire wholesale division, including its Global Girlfriend apparel line, and will re-brand the company’s line of designer, Fair Trade products. Both companies say they are committed to maintaining existing relationships with retailers like Whole Foods, Hallmark and Disney, as well as those that have been established with its artisan partners.
World of Good was founded in 2004 by Priya Haji and Siddharth Sanghvi, with the mission to help small artisan producers improve their lives by providing them with access to mainstream retail markets. According to the press release, the company has impacted more than 40,000 individual artisans across 70 countries by connecting them with millions of U.S. consumers.
Founded in 1995 in San Jose, CA, eBay connects millions of buyers and sellers globally in the world’s largest online marketplace, utilizing PayPal to ensure secure transactions. The company also operates specialized marketplaces such as StubHub, the world’s largest ticket marketplace, and eBay Classifieds sites, which together have a presence in more than 1,000 cities around the world. eBay items can be sold either via a silent auction, in which users input the maximum price they are willing to...
World of Good, Inc. engages in the wholesale and online sale of fair trade products to stores in the United States. It offers handmade housewares, accessories, and gifts. The company was founded in 2004 and is based in Emeryville, California.