SAN JOSE, Calif.--(BUSINESS WIRE)--
PayPal and eBay are better together. That's been true for the past five
years, during which time PayPal and eBay have generated a 441%
increase in share price for our investors, significantly outpacing
NASDAQ and the S&P. And we continue to believe PayPal and eBay together
is the best path to creating sustainable, long-term shareholder value in
the future. As the lines between online and offline commerce continue to
blur, the competitive advantages of PayPal and eBay together are more
important than ever.
PayPal is thriving as part of eBay Inc. Being part of eBay Inc. for more
than a decade has enabled PayPal's strong growth and global leadership
position in digital payments. PayPal has not been held back by eBay Inc.
In fact, as part of eBay Inc., PayPal has built relationships with VISA,
MasterCard, American Express and Discover, with the world's leading
point-of-sale providers, and with leading global companies such as
Facebook and Samsung. Together, PayPal and eBay have strong, real
synergies that benefit both businesses. These synergies cannot be easily
addressed in arm's length commercial agreements.
A partial separation of PayPal is not a new idea, and we're glad to see
that Mr. Icahn now seems to agree that a full separation of PayPal is
not a good idea. Our board regularly evaluates strategic options for the
company, looking at the best ways to enhance our competitiveness,
accelerate growth and deliver sustainable shareholder value.
We are fully committed to always acting in the best long-term interests
of our shareholders. So we've asked ourselves: Will a partial spin make
PayPal more competitive? Will it accelerate growth? Will it be possible
without distracting PayPal at a critically important time? And,
importantly, will it create sustainable value for shareholders over
time? Today, we believe the answer to these questions is no. Not now. In
the future, our board will continue to evaluate all strategic options
and make the right decisions for shareholders. But today, PayPal and
eBay are better together.
Important Additional Information
eBay Inc., its directors and certain of its executive officers are
participants in the solicitation of proxies from stockholders in
connection with eBay's 2014 Annual Meeting of Stockholders. eBay
has filed a preliminary proxy statement and form of WHITE proxy card
with the U.S. Securities and Exchange Commission (the "SEC") in
connection with the 2014 Annual Meeting. EBAY STOCKHOLDERS ARE
STRONGLY ENCOURAGED TO READ THE DEFINITIVE PROXY STATEMENT (INCLUDING
ANY AMENDMENTS AND SUPPLEMENTS) AND ACCOMPANYING WHITE PROXY CARD WHEN
THEY BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT INFORMATION.
Information regarding the names of eBay's directors and executive
officers and their respective interests in eBay by security holdings or
otherwise is set forth in eBay's preliminary proxy statement for the
2014 Annual Meeting of Stockholders, filed with the SEC on March 10,
2014.
This document, in addition to any definitive proxy statement (and
amendments or supplements thereto) and other documents filed by eBay
with the SEC, are available for no charge at the SEC's website at http://www.sec.gov
and at eBay's investor relations website at http://investors.ebayinc.com.
Copies may also be obtained by contacting eBay Investor Relations by
mail at 2065 Hamilton Avenue, San Jose, California 95125 or by telephone
at 866-696-3229.
About eBay Inc.
eBay Inc. (NASDAQ: EBAY) is a global commerce and payments leader,
providing a robust platform where merchants of all sizes can compete and
win. Founded in 1995 in San Jose, Calif., eBay Inc. connects millions of
buyers and sellers and enabled $212 billion of commerce volume in 2013.
We do so through eBay, one of the world's largest online marketplaces,
which allows users to buy and sell in nearly every country on earth;
through PayPal, which enables individuals and businesses to securely,
easily and quickly send and receive digital payments; and through eBay
Enterprise, which enables omnichannel commerce, multichannel retailing
and digital marketing for global enterprises in the U.S. and
internationally. We also reach millions through 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. For more information about the company and its
global portfolio of online brands, visit www.ebayinc.com.
eBay Inc.
Investor Relations Contact:
Tracey Ford
tford@ebay.com
Tom
Hudson
thhudson@ebay.com
or
Media
Relations Contact:
Amanda Miller
press@ebay.com
or
Investor
Information Request:
408-376-7493
or
Company News:
http://www.ebayinc.com/news
or
Investor
Relations website:
http://investors.ebayinc.com
Source: eBay Inc.
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