6 ms·

If anyone else, like me, thought eBay owned PayPal: > On October 3, 2002, PayPal became a wholly owned subsidiary of eBay. On September 30, 2014, eBay Inc. ann

If anyone else, like me, thought eBay owned PayPal: > On October 3, 2002, PayPal became a wholly owned subsidiary of eBay. On September 30, 2014, eBay Inc. announced the divestiture of PayPal as an independent company, which was completed on July 20, 2015.

dboreham 9y ago
Yes. The Masters of the Universe decided that there was "value to be unlocked" by spinning off PayPal. Or at least...someone's spreadsheet said there was value to be unlocked..
- 2xlbuds 9y ago
  Carl Icahn to be exact
  - deleted 9y ago
    [deleted]
- jonknee 9y ago
  And there actually was... PayPal itself is still (after this news) worth more than both eBay and PayPal were as a single company. Add both together and it was an obvious win.
  - gscott 9y ago
    Strange that since eBay probably owns a lot of PayPal stock that they would try to tank Paypal. Maybe eBay sold their Paypal stock holdings ahead of this change.
    - vincelt 9y ago
      Wouldn't that be insider trading?
    - jonknee 9y ago
      eBay has no stake in PayPal, that was the whole purpose of splitting it out. Shareholders of eBay before the split were given PYPL shares on a 1:1 basis.
  - dboreham 9y ago
    I think to win that game you have to wait a few years and then compare the aggregate value vs the pre-split value adjusted for average sector gain over the period.
djsumdog 9y ago
I remembered that eBay spun off PayPal, but I thought PayPal still owned x.com. But after checking, it looks like Elon Musk held onto that domain before selling his steak in PayPal.
- itp 9y ago
  Elon bought x.com back from PayPal in July 2017. https://twitter.com/elonmusk/status/884580654117076992 https://twitter.com/elonmusk/status/884580654117076992
- jdtang13 9y ago
  Paypal steak does not sound like it would taste good
  - btown 9y ago
    Luckily, there's a cryptocurrency for that: https://steaktoken.com/ https://steaktoken.com/

6 ms·

If anyone else, like me, thought eBay owned PayPal: > On October 3, 2002, PayPal became a wholly owned subsidiary of eBay. On September 30, 2014, eBay Inc. ann

by Someone1234 9y ago

dboreham 9y ago
Yes. The Masters of the Universe decided that there was "value to be unlocked" by spinning off PayPal. Or at least...someone's spreadsheet said there was value to be unlocked..
- 2xlbuds 9y ago
  Carl Icahn to be exact
  - deleted 9y ago
    [deleted]
- jonknee 9y ago
  And there actually was... PayPal itself is still (after this news) worth more than both eBay and PayPal were as a single company. Add both together and it was an obvious win.
  - gscott 9y ago
    Strange that since eBay probably owns a lot of PayPal stock that they would try to tank Paypal. Maybe eBay sold their Paypal stock holdings ahead of this change.
    - vincelt 9y ago
      Wouldn't that be insider trading?
    - jonknee 9y ago
      eBay has no stake in PayPal, that was the whole purpose of splitting it out. Shareholders of eBay before the split were given PYPL shares on a 1:1 basis.
  - dboreham 9y ago
    I think to win that game you have to wait a few years and then compare the aggregate value vs the pre-split value adjusted for average sector gain over the period.
djsumdog 9y ago
I remembered that eBay spun off PayPal, but I thought PayPal still owned x.com. But after checking, it looks like Elon Musk held onto that domain before selling his steak in PayPal.
- itp 9y ago
  Elon bought x.com back from PayPal in July 2017. https://twitter.com/elonmusk/status/884580654117076992 https://twitter.com/elonmusk/status/884580654117076992
- jdtang13 9y ago
  Paypal steak does not sound like it would taste good
  - btown 9y ago
    Luckily, there's a cryptocurrency for that: https://steaktoken.com/ https://steaktoken.com/