Founders Are Excited About eBay Acquisition

This week eBay acquired and its stake in the UK private shopping club The Founding Directors are excited about their new partner.

Michael and Silvia Cody, and Sach and Nish Kukadia launched the British website in 2007 and will continue to run the company.

Silvia Cody described 2010 as a “roller-coaster” year for Secretsales, which received multi-million pound rounds of investment from Brands4Friends. She said “Following the news of this acquisition we’re very excited about the future and welcome eBay’s input. We have an excellent team and now the muscle to deliver a superior service for suppliers and customers.”

As well as a new injection of investment, as part of eBay’s acquisition of Brands4Friends’s interest, the company hopes the partnership will further establish it as the leading UK clearance platform. Michael Cody explained “Over the last year our suppliers have had more choice when it comes to clearing their overstocks. We recognise the weight that this announcement has and hope that the brands see that Secretsales is moving firmly in the right direction.”

We think it is.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.