EBay Considering Spinning Off Paypal: Report
Citing sources, news website The Information reported EBay is considering spinning out its fast-growing payments unit PayPal as soon as next year. The website reported, the company has told potential recruits for the position of PayPal CEO about a possible spin-off of the payments unit. PayPal’s previous chief executive, David Marcus, left the company in June to run Facebook’s messaging products. The website said whether eBay has decided to spin off all or part of PayPal, and what structure that could take, remains unclear. In January, eBay said that activist investor Carl Icahn had pushed for carving out the payments unit. Icahn backed off from his demand in April, saying that while he supported a PayPal split in the near future, now was not the time.
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