EBAY SELLS FOR $925M AND CUTS TIES WITH PAYPAL

EBay

Digital eCommerce giant eBay has been acquired for $925 million to streamline its business ahead of the impending separation from PayPal. The business was sold to a consortium led by the private equity firm Permira for $925 million, which according to WSJ is “less than half the $2.4 billion it paid for the division four years ago.” Beginning today, PayPal will trade as its own separate business. This acquisition leaves the troubled eCommerce company with just its marketplace business to compete against giants such as Amazon.