So How About Those PayPal Rumors?

by: pace306

I contacted Ina about the 11main/Paypal issue.

11main called me to tell me that I was correct about some of the technical flaws on 11main (missing emails etc) and that they were gong to 1) ditch Vendio and go it alone. ALL item creation/storage and manipulations would be done (at some point soon in the future) from 11main itself, they were planing on dumping Vendio.

And 2) They were going to use their own in house payment processor and not rely on Paypal. They did NOT make it clear if Paypal was going to be kicked to the curb %100 or if their own payment processing would just take center stage.

After all eBay/PP is their competitor ... no point in enriching them AND since you know you cant trust eBay/PP - you dont/wouldnt ever know if PP was telling eBay what 11main was doing. IE what got sold, how many things got sold etc. That info is too dangerous to leave in PPs hands.

As for rumor #1, a few different "money people" said that eBay should just call itself Paypal since thats all that really going on over there anyway.

Sellers COULD rejoice - no more good cop/bad cop etc - BUT Im not so sure.

It doesnt mean that PP wouldnt still listen to eBay and be the stick to which they beat sellers with, and it doesnt mean there couldnt be an eBay payments built into eBay .... ie Paypal lite.

by: laurengrace

Yeah, i remember when ebay bought paypal, there was a huge controversy over it. I was totally against it AS WERE MANY. Only the oldest ebayers remember that. We used to have to manually send invoices to our customers, and that is when we used to like ebay. I dont think they should have ever been allowed to buy it. Plenty tried to block it due to anti trust issues. How appropriate.I have anti trust issues with ebay every day, and when they are allowed to put holds on your money because they change the rules in the middle of the game it bears some intervention. I have not had any holds put on my account YET, but i see that handwriting on the wall. I sure hope they do sell it.

by: Rexford

Since Icahn went very silent a few months ago, you have to wonder if Johnny D. worked a deal out with him at that time to save face, and now it's coming to the surface.

If PayPal is spun off, and eBay is a stand alone company, the true financial picture of eBay Marketplaces will come to life.  I'm guessing if eBay were sold, there would be a financial audit of  Marketplaces by the potential buyer and who knows what that would show.

What I hope is that if PayPal is spun off, that John Donahoe will leave. (If he leaves he would need for his executive henchmen to go with him because they too are the problem.) In my opinion, he has done such great damage to eBay that I don't think that Marketplaces will ever recover.

God forbid that this company is sold to the Chinese, but can I easily see that happening.

by: Basset

Just an opinion from a basset on the street (no MBA here) but I think it would be healthier for business for them to split. Closer scrutiny would likely take place- a good thing, imo.

PayPal can do its own thing without eBay. It would be nice to see some regulation emerge, but I'm not holding my breath.

eBay, if able to stand alone, should allow sellers to advertise/accept other payment forms as one of its very first steps.

by: Rexford

Basset says "Closer scrutiny would likely take place- a good thing, imo."

I agree. That has been needed for some time.  (And as I love bassets, I will always value the opinion of any basset on the street.)

In a perfect world eBay would be purchased by the sellers and run by the sellers, and no one who hasn't bought or sold on eBay for at least a year could be allowed to be in a management position.  (I can dream can't I?)  

by: ebay refugee camp

If that happens you will likely see no change in ebay or the payment process, sellers and buyers will still use Paypal on ebay. However, will a new leader of Paypal agree with ebay's slaughter of small sellers?
How big are Donahoe and Swan's investments in Paypal?
I cannot believe that any of it will be done legally somehow these two will make a bundle.
Those two are behind what is going on right now at ebay.
They have promised the big retailers that they will have a big space on ebay and ebay is eliminating the competition for  the big guys who are integrating paypal in their systems.
Look at the list of these retailers
at Ebay enterprise.
It is all being done because of greed, the stock price goes up and their huge bonus checks and dividends go up, without a care about the people they have hurt.
They are bullies and they use their wealth to bully. They have no shame and are making policy that clearly is absurd, these policies are causing honest sellers to leave which is what they want, this is their plan.
11Main is ramping up slowly and I believe it will take over. I urge all of you not to accept Paypal and go to 11main's direct checkout. You can also do this on Etsy.
You can fight back my off ebay sales have been very good and it is exciting to see that their policies has driven sales on those those other venues.
I still believe Donahoe will leave ebay, he may be using the spin off of Paypal to drive up the stock price and then he will leave.
You cannot fix stupid and none of ebay's executives are capable of running a retail business, they are just stock brokers manipulating the stock price for personal gain.
Many of you have closed your ebay stores and moved your listings elswhere make sure you also have filed your complaint with your states attorney general about ebay's seller defect system, we are the consumer. where do we we get to give ebay a defect?

by: ebay refugee camp

Hopefully 11main will get on the stick and fix the problems currently existing in their programs.
I received a message yesterday from 11main to sign up for direct payment that involves my bank account I am doing that. Ebay will get spanked by this company and that will be sweet for all the sellers ebay has injured.
Sellers are anxiously waiting for it all to come together. If you do not have to use Paypal do not as long as JD has his fingers in it.

by: Patricia

I had hoped comments were directed at what is selling on 11 Main.  I haven't made a sale there yet and only go there to remove paintings I've sold elsewhere.  Their art direct from artist category is a mess and instead of mixing up paintings they are showing ALL paintings from each shop in one continuous line!  After so many pages of one shop's wares I imagine buyers would simply get bored and leave.  I've noted this to them several times to no avail.  Is anybody having any success on that site?

by: Mr. Me

This is more of a case of PAYPAL shaking off eBay.
eNays stock is spiking on this news, which is a HUGE no confidence vote for ebay and Donahoe, as investors are speculating on a big offer for paypal.
If the deal goes through, eBay will deflate like a dollar store baloon.
As for 11Main ....... yawn.... I dont need my items "curated" by a 20-year old, Ive sold a couple items, but dont hold much hope for the site.

by: Mr. Me

eBays bubble popping.....
http://online.wsj.com/news/articles/SB1000142405270230
3960604575158074202681144?mg=reno64-wsj&url=http%3A%2F%2Fonline.wsj.com%2Farticle%2FSB10001424052702303960604575158074202681144.html

by: Philip Cohen

If eBay spins off PayPal and does not retain a financial interest in PayPal then there is no incentive for eBay to retain (nor indeed virtually mandate) the use of PayPal on its marketplace; PayPal without its privileged place on the eBay marketplace would then be effectively “dead in the water” as either MasterCard’s “MasterPass” or Visa’s “Visa Checkout” now provide a more professional online payments service. No, sorry, eBay’s Johnny Ho is never going to let go of PayPal because without PayPal eBay Inc. will continue to get lower in the water; indeed, if divorced, they both will eventually sink; regardless the new MasterCard and Visa online products will eventually kill off “PreyPal” outside of the eBay marketplace anyway … http://bit.ly/1nSA1Zl

by: Massachusets Howler

LOOK at where this "rumor" is coming from.
LOOK at the link on the story about "Ebay being Icahned", hit that link for "The Information.

Marc Andreeson is one of "The Information" CONTRIBUTORS!

This is an intentional leak by Andreeson to illegally buoy the stock.

Stephanie Titenus is a "Contributor" to The information blog too.

This is just a strategy by Andreeson to pump the stock.

MH

by: Eric Saeger

If MH is right, we really need to step up production on those guillotines for Wall Street.  
(If you disagree, you're wrong.)

by: Ming the Merciless

@ laurengrace

I certainly remember when  ebay bought PayPal. They did so because their own payments system was very seller unfriendly (anyone surprised) and so few sellers used it.

That was when PayPal was "free and always will be."

The Justice Department allowed the sale but warned ebay not to make PayPal a monopolistic payment processor which, of course, ebay did incrementally.

They accomplished by selected alternate e payment processors that no one had ever heard of so few buyers or sellers used or accepted them then nor are they widely accepted now.

Western Union payment were too dangerous. Google payments were too risky and so on.

So what we have now and have had for several years is an illegal cartel whose purpose is to restrict payment processor choice and competition on ebay.

Marc Andreeson should be reported immediately to the SEC @ 202-551-5777.

by: Ming the Merciless

Duh, forgot ebay's listing ban of mentioning paper payments effectively banning checks and money orders.

by: Patricia

I've been with Paypal since it began.  I'm not sticking up for Ebay...heaven knows how I hate them, but I have had no trouble at all from Paypal in all the years I've used them.  I use them on my website and have their shopping cart, I use them exclusively on Daily Paintworks, where I get my largest sales and even on Etsy with no problem.  No money has ever been held back and no other problems either.  I would love for them to separate themselves from Ebay.  I think we all know they are being used to hide the drop in traffic and sales at Ebay and the influx of asian sellers selling third rate junk.

by: AC_in_Mich

@Patricia, well I went to 11 main to see what they have to buy. Had to enter my email address.  Still waiting on reply.  Will let you know.

by: AC_in_Mich

@ Mr Me -LOL

by: gutspiller

One thing will be certain. If Ebay spins off PayPal, it means JD has lost his power. And if JD has lot his power it will not take a lot longer before he gets sacked.

For what I'm concerned they may spin off PayPal for the better or the worse.

Ebay con't continue the way they are doing now. It's torture for its sellers.

I really believe the only way for Ebay to survive on the long term is a complete change of management or sell out to another company even if it means the complete destruction of Ebay.

Better the short pain as they do now: just give you enough oxygen to survive but fatal in the long term with all the stress they inflict.

So yes, let them spin off PayPal. Let them have a new management to restore Ebay in its former glory or to go completely down.

by: Massachusets Howler

Please EVERYBODY!

- Go to ebay stock through Google.

- Hit the link in the story titled "Ebay gets Icahned".

-Hit the link to the blog site on the story "The Information".

- On "The Information" blog page click the link marked "Our Contributors".

MARC ANDREESON is the 2nd contributor!!!!

The SEC NEEDS TO BE CALLED as Andreeson IS AT IT AGAIN!

This NEEDS TO BE FRONT PAGE NEWS!!

Come back here and tell us what you think about this!!!!!

Call the FTC and the SEC folks as this is CLEAR STOCK PRICE MANIPULATION by a "board member"- this is 100% ILLEGAL.

Andreeson should know better!!!!!

MHowler