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# EBay To Spin Off PayPal Into Separate Company

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## Video: EBay To Spin Off PayPal Into Separate Company

[Watch (HLS stream): EBay To Spin Off PayPal Into Separate Company](https://cdn.jwplayer.com/manifests/t3eZFRnI.m3u8) (1:04)

![EBay To Spin Off PayPal Into Separate Company](https://cdn.jwplayer.com/v2/media/t3eZFRnI/poster.jpg?width=720)

_Published 2014-09-30. EBay is spinning off its PayPal business into a separate, publicly traded company next year._


---

Jul 27, 2023 5:19 PM UTC

---

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---


## Transcript

eBay is spinning off its PayPal business into a separate, publicly traded company, next year. eBay's CEO, John Donahoe, said in a statement, while the two companies had benefited from each other, Keeping eBay and PayPal together beyond 2015 clearly becomes less advantageous. To each business strategically and competitively. In a highly public feud earlier this year billionaire investor Carl Icahn pressured eBay to split the companies, as a way to increase value for shareholders. He backed off his demand in April, when he agreed to take a board member position. But Tuesday's news, as Fortune's John Kell put's it.

Is seen as basically an admission that Icahn had been right all along. PayPal was founded in 1998 and went public four years later, not long after eBay acquired it for $ 1. 5 billion. Once the tax free spinoff is complete, some time in the second half of 2015, Donahoe will step down as chief executive. eBay Marketplace's president Devin Wenig will head the new eBay and American Express exec Dan Schulman will serve as PayPal's president and CEO. Ebay's stock jumped 11 % with Tuesday's news.

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