What is eBay's official website? Why did eBay split off PayPal?

eBay official website: https://www.ebay.com/

1. Why does eBay want to spin off PayPal?

Former eBay CEO John Donahoe once said that it is no longer economically rational to tie eBay and PayPal together. "eBay and PayPal are two unique and excellent companies. After the separation, the new eBay led by Devin Wenig and PayPal led by Dan Schulman will be more focused and have better flexibility to seek their own future success in the global business and payment markets. I believe that both eBay and PayPal have the right management team, strategy, structure, and operational discipline to create sustainable long-term value for shareholders and bring better opportunities and experience to global users."

2. Is activist investor Carl Icahn behind the spinoff?

Technically, no. Icahn initiated the campaign a year ago, calling for this split. However, eBay management and the board of directors did not accept Icahn's proposal at the time. In a recent announcement, eBay's board of directors said that due to the rapid changes in the commerce and payment markets, they changed their mind last September and decided to split the company.

3. What are the transaction terms for this spin-off?

As of July 8, shareholders will receive one PayPal share for every one eBay share they hold. PayPal will then be listed on the Nasdaq under the ticker symbol "PYPL." PayPal shares will begin trading on July 6, be distributed to shareholders on July 17, and then begin normal trading on July 20. eBay shareholders do not need to do anything to receive PayPal shares.

4. How will eBay and PayPal operate independently?

eBay and PayPal have reached a five-year agreement that will ensure a reliable revenue stream for PayPal after the separation, and will allow PayPal to work with eBay's competitors, other financial companies and even technology companies that want to offer payment services, such as Google and Apple.

5. What will happen to eBay's other business units?

eBay has been cleaning up its business over the past few months. Earlier this year, eBay sold its 28.4% stake in Craigslist to the company and settled all pending lawsuits. In addition, eBay also sold its eBay Enterprise business, which helps other retailers sell online. eBay Enterprise was born out of eBay's $2.4 billion acquisition of GSI Commerce in 2011.