Ina Steiner EcommerceBytes Blog
News and insight focusing on ecommerce.
by Ina Steiner, Editor of EcommerceBytes.com
Mon Nov 16 2015 20:19:51

Carl Icahn Dumps eBay in Favor of PayPal

By: Ina Steiner

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The investor who pressured eBay into spinning off PayPal has dumped his holdings in the now standalone eBay, according to Reuters. The newswire said Carl Icahn swapped his entire equity stake in eBay for the same number of shares in PayPal in the third quarter.

Reuters said filings with the SEC showed that Icahn's stake in PayPal as of September 30 amounted to 3.8% of the company.

Last year, eBay had called Icahn a mudslinger and a liar when trying to fend him off, but in January of this year, eBay's board capitulated to pressure that it separate the Marketplaces and Payments businesses; the breakup was completed in July.

John Donahoe, the former head of eBay who had fought Icahn tooth and nail over the breakup, is not clear of Mr. Icahn, however - Donahoe now heads PayPal's board of directors.

Does Icahn's change in positions in the two companies reveal anything about his confidence in eBay's performance going forward?

Comments (33) | Leave Comment | Permalink
Readers Comments

Perminate Link for Carl Icahn Dumps eBay in Favor of PayPal   Carl Icahn Dumps eBay in Favor of PayPal

This user has validated their user name. by: The End

Tue Nov 17 22:42:10 2015

Rexford : That Good  :o)
Difficult to find any place that's "JUMPIN'", so you're beating the odds.
Back in the old days people bought interesting stuff just to have it.
Now, money is even more precious than what it can buy.
Here's to a prosperous 2016.

Perminate Link for Carl Icahn Dumps eBay in Favor of PayPal   Carl Icahn Dumps eBay in Favor of PayPal

by: comet This user has validated their user name.

Tue Nov 17 23:51:54 2015

If he had any brains at ALL he would set up his OWN sales site.  And his OWN payment site.  

There.  I fixed it.  

Perminate Link for Carl Icahn Dumps eBay in Favor of PayPal   Carl Icahn Dumps eBay in Favor of PayPal

by: donald This user has validated their user name.

Wed Nov 18 00:34:02 2015




This tells me a lot.  

Perminate Link for Carl Icahn Dumps eBay in Favor of PayPal   Carl Icahn Dumps eBay in Favor of PayPal

by: rachel This user has validated their user name.

Wed Nov 18 00:40:59 2015

Paypal and eBay have to stay interdependent for 5 years after the split  This is why eBay sellers have to use Paypal as a payment option & options are still limited on credit cards. Here is an old article from Reuters about it. Now I thought that Paypal was increasing seller fees but I guess not as much as the rest per this article?  With the shipping fee increases, they are trying to kill us. Morale is pretty bad in customer service if you could call it that these days on eBay. They don't know what they are doing!
http://uk.reuters.com/article/2015/04/09/ebay-paypal-idUKL4N0X65VQ
20150409?feedType=RSS&feedName=rbssFinancialServicesAndRealEstateNews

Perminate Link for Carl Icahn Dumps eBay in Favor of PayPal   Carl Icahn Dumps eBay in Favor of PayPal

by: Future Tomorrow This user has validated their user name.

Wed Nov 18 02:52:41 2015

No one should really be surprised by this or have any consideration that revolves around buying stocks in eBay. I noticed a few weeks ago after being on Bonanza for just a week that my items were starting to sell there. Then last week I sold 3 items in a week. Small and insignificant one may claim but I see something else entirely different happening. Buyers are now contacting me through my FB page to find out if the items I am out of stock on over on eBay will be restocked on my website. When I start making YouTube videos again my focus should be placing links to my website, IG and Bonanza.

I lost a lot of confidence in eBay and maybe Carl did as well with the debacle they called a mobile update. If eBay can't get their site in order or create a working mobile experience what makes anyone believe they can implement and thrive from new service offerings? They make the wildest claims and have had every answer possible, when they could to major UX and UI issues I've brought to their attention. They have a UX team but they create drop down menus that don't resemble any sort of standard drop down UI pattern? Right.

Keep in mind the spin off from PayPal was NOT the only major part of eBay that was divided. If you closely examine the brand they took all the most profitable parts of eBay and separated it from the marketplace. eBay is most likely bleeding money and they didn't want it to drag down the most profitable parts of the name so they separated everything so when, not if eBay finally tanks.

Now they've resorted to removing posts and threads in the community/discussion area and not answering the more pressing questions because they failed with their last update and it couldn't mask obvious issues like the inability to log in, see your watch list etc. The very basics. Yet they want to offer new services and add more layers of complexity? Good luck with that.

Perminate Link for Carl Icahn Dumps eBay in Favor of PayPal   Carl Icahn Dumps eBay in Favor of PayPal

by: pfft!! This user has validated their user name.

Wed Nov 18 03:24:04 2015

Everybody going on about Carl Icahn losing faith in ebay or whatever are totally clueless about the whole Icahn thing.
He NEVER WAS interested in "ebay".  His interest was ALWAYS "paypal" from DAY ONE.  That's why he wanted the two companies seperated.
OH.............& this statement by sasicat9:  "Never thought Icahn had much in the way of common sense. Still don't." is downright laughable.  
I'm certainly NO big Carl Icahn supporter at ALL.  But it's HILARIOUS to read a statement like that.  The man is worth an ASTRONOMICAL amount of money.....and he didn't get there by being a total dumbass.  YOU may not like him.........YOU may hate his methods......but you only make YOURSELF look stupid with comments like that.  LOL  

Perminate Link for Carl Icahn Dumps eBay in Favor of PayPal   Carl Icahn Dumps eBay in Favor of PayPal

by: whipnet This user has validated their user name.

Wed Nov 18 09:26:10 2015

When eBay collapses, consumers will not migrate to Bonanza, ecrater, etc.  They will migrate to walmart.com, bestbuy.com, target.com as they already are.  Only unique items and the next generation coming up will have little to be nostalgic about because the toys they had growing up were rehashes of what we were nostalgic for.

*

Perminate Link for Carl Icahn Dumps eBay in Favor of PayPal   Carl Icahn Dumps eBay in Favor of PayPal

This user has validated their user name. by: FEEbay

Wed Nov 18 10:36:40 2015

Icahn is no dummy.....
He sees the writing on the wall...
I find it hilarious that he is going to be all over the HOE like a cheap suit however....karma's a bitch Donohoe!!

Perminate Link for Carl Icahn Dumps eBay in Favor of PayPal   Carl Icahn Dumps eBay in Favor of PayPal

This user has validated their user name. by: FEEbay

Wed Nov 18 10:37:19 2015

Now if someone could only get Brian Burke to leave....

Perminate Link for Carl Icahn Dumps eBay in Favor of PayPal   Carl Icahn Dumps eBay in Favor of PayPal

by: comet This user has validated their user name.

Wed Nov 18 12:52:46 2015

@Future Tomorrow----Can you share with us what sort of things are selling for you on Bonanza?  I have looked there for many things and only once found something I actually bought.  And is there a way to do a SOLD ITEMS SEARCH?  

I sell mostly higher end sports wear and gear=---used and new--snowboard boots;  jackets;  motorcycle leathers and jewelry.  I have been scared to list any jewelry on ebay for a while.  

Any info would be appreciated by more than just me!  

Perminate Link for Carl Icahn Dumps eBay in Favor of PayPal   Carl Icahn Dumps eBay in Favor of PayPal

by: maxmad This user has validated their user name.

Wed Nov 18 16:15:37 2015

It's absolutely no surprise,,

These guys had this plan, long before the split, and the plan is working perfect...

The door to the vault is wide open.  No one is watching, and No one cares,

Perminate Link for Carl Icahn Dumps eBay in Favor of PayPal   Carl Icahn Dumps eBay in Favor of PayPal

by: JQ This user has validated their user name.

Wed Nov 18 18:14:11 2015

@whipnet & comet,

I have been selling on Bonanza for about 1.5 years now. It started slow but really picked up. I now make about $150/month selling there, which is about 15-20% what I make selling on eBay each month at this point.

I sell mostly used books, magazines and comics. Comics account for about 80% of my Bonanza sales.

I gather the big sellers on Bonanza as a whole are fashion and home goods, but you can buy and sell pretty well anything there.

Their inventory is much smaller than eBay's but, according to the site, it has doubled each of the last three years. During my time there I certainly have noticed how much the site has grown. My sales are more consistent over time, and my traffic grows steadily.

Unlike eBay you have to grow a customer base at Bonanza. The site gets very little organic traffic. Most customers either are regulars I have picked up, or people who found my items through internet advertising (mostly Google shopping) and dropped into my booth to make a purchase.

Regarding my optimism for Bonanza's continued growth, unlike most other on-line shopping sites you can sell used items at Bonanza. Right now eBay dominates that market, but that is less and less true each month. People who are looking for used items still spend a lot on-line, and if they are not spending it eBay, that money is going to find a new home. I looked into a few other sites before I chose Bonanza, and so far I am happy. Walmart, Target, Amazon, etc. really are not good options for sellers like myself. I rely on larger orders of inexpensive books, magazines and comics, and right now Bonanza is the best option outside of eBay for that type of business.

Perminate Link for Carl Icahn Dumps eBay in Favor of PayPal   Carl Icahn Dumps eBay in Favor of PayPal

by: G-and-A This user has validated their user name.

Thu Nov 19 11:18:21 2015

@comet And is there a way to do a SOLD ITEMS SEARCH? on Bonanza:

When you enter a search term, at the bottom of the left hand column (refine Search), there is a box to click "Sold in last year."  (You have to scroll down a long ways to find it.)

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