The plaque is located in front of eBay's headquarters in San Jose, California.
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Shares eBay rose 8% on Wednesday. Meta said it will enable some listings to appear on Facebook Marketplace, a popular platform that connects consumers to pick up local products and more.
eBay shares hit highest level since November 2021.
The rollout will begin with tests in Germany, France and the United States, where buyers will be able to browse listings directly on the Marketplace platform, with the rest of the transactions on eBay reported by Meta. release.
The partnership could boost marketplace business for eBay, which has struggled to compete with e-commerce rivals such as Amazon, WalmartAgo, and even Facebook's own marketplace, which allows users to buy and sell items.
eBay has recently begun using niche categories such as collectibles and luxury goods to encourage buyers and sellers to return to its site. CEO Jamie Iannone he told CNBC in an October interview that customers were visiting the site famous for used and refurbished goods, looking for discounts in an unstable macroeconomic environment.
Meta's move is an attempt to appease the European Commission, the European Union's executive arm, after the regulator fined the company 797 million euros ($821 million) in November for tying its Marketplace product to Facebook's main app.
At the time, the Commission said that Meta's merger of Marketplace with Facebook could mean that competitors would be effectively “foreclosed” from the market, given the platform's distribution reach. Facebook has over 3 billion users worldwide.
The Commission also found that Meta imposes “unfair trading conditions” on other online classifieds service providers who advertise on its platforms, particularly Facebook and Instagram. She added that these terms allow Meta to use data generated from other advertisers for Marketplace.
Meta then appealed against the ruling, claiming that it “ignores the realities of the thriving European market for online classified advertising services.”
“While we disagree with the European Commission's decision on Facebook Marketplace and continue to appeal it, we are working quickly and constructively to develop a solution that addresses the issues raised,” the company said Wednesday.
eBay touted its Facebook Marketplace integration as a way to “increase the visibility of our sellers' listings on and off eBay as part of our strategy to engage buyers and deepen customer loyalty.”
Facebook in 2023 announced a similar partnership With Amazon which allows users to browse and purchase products without leaving the app.
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— Additional reporting by CNBC's Annie Palmer.
