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As
the Dow Jones and Nasdaq continue to ride the rollercoaster of an uncertain
economy, Topps has gone out and made themselves a major acquisition,
buying thePit.com, an online card exchange that works much like a real
stock market. The purchase price - $5.6 million.
Topps continues
to mark its online presence. With the Topps Vault going strong on eBay
and the formal unveiling of eTopps just around the corner, the Brooklyn-based
manufacturer looks like it's 
on
its way to continue to evolve the market.
Warren Friss, Topps Vice President responsible for Internet activities said, "ThePit's technology platform is well proven, offers top-notch functionality and allows us to extend our reach to markets previously untapped by Topps."
Officials from thePit have assured users that trading will be in no way affected. One of the more interesting aspects of this purchase is that now Topps will be profiting from their competitors as cards from all companies are on the market. Collectors go to thePit to buy and sell their cards. Real-time demand determines whether a card's price goes higher or lower. The company makes money by charging a commission for every transaction.