GameStop

eBay and three former top executives, including ex-CEO Devin Wenig, agreed to pay $55.7 million to settle a civil lawsuit by David and Ina Steiner, a Massachusetts couple harassed by eBay employees in 2019. The campaign—retaliation for the couple’s critical newsletter EcommerceBytes—included sending cockroaches, a bloody pig mask, and death threats. Seven former employees pleaded guilty in a related criminal case. The settlement includes eBay paying $46.15 million, charitable contributions, and a public apology.

13 reports · 3 sources · Updated Jul 30, 04:00 PM UTC

GameStop (GME) has increased its stake in eBay (EBAY) to nearly 10%, according to an SEC filing, escalating tensions after eBay's board rejected GameStop's $55-56 billion takeover bid as 'neither credible nor attractive.' Ryan Cohen, GameStop's chairman, is shifting from a hopeful buyer to a major shareholder, positioning for a potential proxy fight. Cohen has committed approximately $500 million of his own money to support the deal and has dropped a proposed CEO performance award worth up to $35 billion to focus on the eBay acquisition. GameStop now holds about 43.4 million eBay shares, roughly 9.8% of the company, after converting derivatives into stock. Cohen has stated he wants to be CEO of eBay, not GameStop, signaling a long-term battle for control of the online marketplace.

1 reports · 1 sources · Updated Jul 21, 08:54 PM UTC

Hasbro reported stronger-than-expected Q2 2026 results, with net revenue rising 16% year-over-year to $1.14 billion and adjusted operating profit up 14% to $282 million. The company raised its full-year guidance for revenue growth, margins, and EBITDA, citing strong momentum in Magic: The Gathering, which saw sales surge 32% behind record launches like Marvel Super Heroes. The Wizards segment revenue grew 27% to $664 million. Consumer Products returned to growth, and the impact of a prior cyber incident was less severe than anticipated. Hasbro also tightened its digital game strategy after a $56 million write-down and increased its 2026 share repurchase target to at least $200 million. CEO Chris Cocks highlighted broad-based growth across Magic, Dungeons & Dragons, Hasbro Gaming, Peppa Pig, Star Wars, and Marvel, despite headwinds from oil costs and trade policy.

1 reports · 1 sources · Updated Jul 21, 02:06 PM UTC

Ryan Cohen, chairman of GameStop, has publicly stated his intent to acquire eBay, declaring 'We're coming for eBay one way or another.' GameStop now holds a 9.8% stake in eBay (43.4 million shares) after purchasing additional shares and converting options. In May, GameStop made an unsolicited $56 billion offer (~$125 per share) for eBay, which the eBay board quickly rejected, citing concerns over financing and strategic logic. The bull case highlights Cohen's track record (building Chewy, fixing GameStop's balance sheet), GameStop's $7.38 billion cash reserve, and the potential synergy of using GameStop's 1,600 stores as authentication hubs for collectibles (42% of GameStop revenue). The bear case focuses on financing challenges: GameStop's market cap (~$10 billion) is one-quarter of eBay's (~$50 billion), and the only financing commitment is a non-binding $20 billion letter from TD Securities contingent on an investment-grade rating. eBay's strong performance (19% revenue growth in Q1 2026) makes a hostile takeover harder to justify to shareholders.

1 reports · 1 sources · Updated Jul 21, 11:57 AM UTC

Ryan Cohen, chairman of GameStop, has escalated his pursuit of eBay, stating in a Bloomberg interview that he is 'coming for eBay one way or another.' GameStop now holds a 9.8% stake in eBay (43.4 million shares), following an unsolicited $56 billion acquisition offer (~$125 per share) that eBay's board rejected as 'neither credible nor attractive.' The article examines the bull case, citing Cohen's track record with Chewy, GameStop's $7.38 billion cash position, and the strategic logic of using GameStop's 1,600 stores as authentication hubs for collectibles (42% of GameStop revenue). The bear case highlights financing challenges, as GameStop's market cap (~$10 billion) is roughly one-quarter of eBay's (~$50 billion), and the only backing is a non-binding $20 billion letter from TD Securities contingent on investment-grade credit. eBay's strong performance under CEO Jamie Iannone (19% revenue growth in Q1 2026) further complicates the bid. Hedge fund data shows 61 funds held eBay at end of Q1 2026, with total dollar value declining.

1 reports · 1 sources · Updated Jul 21, 11:57 AM UTC

This Seeking Alpha article analyzes GameStop's (GME) reported attempt to acquire eBay (EBAY), framing it not as a traditional acquisition but as an activist play. The author, a long-time contributor with a value-investing focus, notes the irony that the GameStop saga, which began over five years ago and became a global phenomenon in January 2021, may culminate in a bid for eBay. The piece provides context from the author's experience during the dot-com bubble and includes standard disclosures. The analysis suggests the move is strategic and activist-driven rather than a straightforward corporate merger, reflecting GameStop's ongoing transformation under its meme-stock notoriety.

1 reports · 1 sources · Updated Jul 20, 09:55 PM UTC

GameStop, led by CEO Ryan Cohen, has nearly doubled its stake in eBay to 9.8%, intensifying its unsolicited takeover bid after eBay's board rejected an earlier $57 billion cash-and-stock proposal. Cohen, known for transforming Chewy and reviving GameStop, has amassed 43.4 million eBay shares and is now one of the largest shareholders. He has expanded his advisory team and begun discussions with major institutional investors. The proposal faces significant skepticism due to GameStop's market cap being only one-fifth of eBay's, and a $20 billion financing commitment from TD Securities depends on the merged entity achieving investment-grade credit. Cohen envisions creating a broader digital commerce platform to compete with Amazon, while eBay has focused on higher-margin categories like trading cards and luxury goods. GameStop claims it could cut $2 billion in annual costs post-merger, though details remain unclear.

1 reports · 1 sources · Updated Jul 20, 11:49 AM UTC

GameStop has increased its stake in eBay to nearly 10%, according to an SEC filing, as the gaming retailer continues to pursue a takeover despite eBay's rejection of its initial $56 billion bid in May. GameStop now owns over 43 million shares, including 3.5 million purchased in June for $381 million and 39 million shares settled via put/call pairs. CEO Ryan Cohen has dropped his performance pay package to focus on the acquisition and has publicly stated he prefers a collaborative deal but will take the matter to shareholders if necessary. Cohen has outlined plans to use GameStop stores as nodes for eBay's marketplace and live commerce. eBay has not engaged further with Cohen since rejecting the initial offer.

1 reports · 1 sources · Updated Jul 20, 11:47 AM UTC

GameStop announced a partnership with Uber Eats on July 15, 2026, allowing U.S. customers to order video games, consoles, accessories, and collectibles for on-demand or scheduled delivery from participating stores. The deal aims to strengthen GameStop's omnichannel strategy, capitalize on launch-day releases and impulse purchases, and expand its digital reach without significant capital investment. However, the announcement failed to boost GameStop's stock price. The company reported strong Q1 fiscal 2026 results on June 2, with net sales up 14% year-over-year to $835.3 million, driven by collectibles revenue surging to $348.9 million. Adjusted operating income climbed to $140.5 million from $27.5 million, and net income jumped to $389.6 million. GameStop holds $9.7 billion in cash and securities and announced a new $2 billion share repurchase authorization. The stock trades at 2.52 times sales, a premium to the sector median, and is down 6.73% over 52 weeks but up 8.69% year-to-date.

1 reports · 1 sources · Updated Jul 19, 03:00 PM UTC

GameStop announced a partnership with Uber Eats on July 15, 2026, allowing U.S. customers to order video games, consoles, accessories, and collectibles for on-demand or scheduled delivery from participating stores. The deal aims to strengthen GameStop's omnichannel strategy, capture incremental sales, and enhance customer engagement without significant capital investment. However, the announcement failed to boost the stock price, which remains down 6.73% over the past 52 weeks and trades about 22.4% below its 52-week high. GameStop reported strong Q1 fiscal 2026 results on June 2, with net sales up 14% year-over-year to $835.3 million, collectibles revenue surging to $348.9 million, and net income jumping to $389.6 million from $44.8 million. The company holds approximately $9.7 billion in cash and marketable securities and announced a new $2 billion share repurchase authorization through 2029.

1 reports · 1 sources · Updated Jul 19, 03:00 PM UTC

GameStop disclosed in an SEC filing that it now owns 43.4 million shares of eBay, representing a 9.8% stake, up from a 5% economic stake in early May. The videogame retailer's CEO, Ryan Cohen, had previously made an unsolicited $56 billion cash-and-stock offer to buy eBay, which was rejected as 'neither credible nor attractive.' Cohen has since converted derivatives into common shares, including settling 39 million eBay shares from put/call pairs. He stated in a Bloomberg interview, 'We're coming for eBay one way or another,' and has committed $500 million of his own money to the deal. GameStop shareholders approved increasing authorized shares to provide more flexibility. Wall Street has questioned the financing plan, which relies on a non-binding $20 billion debt commitment from TD Securities contingent on an investment-grade credit rating. Cohen declined to raise his offer, saying he would not 'negotiate against myself.'

1 reports · 1 sources · Updated Jul 17, 11:03 PM UTC

Warren Buffett, in a CNBC interview, criticized the current speculative market environment, comparing retail investors' chase of hot stocks and one-day options trading to gambling. He reiterated his long-standing buy-and-hold philosophy, emphasizing investing in undervalued companies with strong fundamentals. Buffett noted that while opportunities sometimes come fast, investors should be patient and avoid industries they don't understand. He also attributed much of his success to luck, including early exposure to investing through his father. The article contrasts Buffett's approach with modern herd behavior in stocks like SpaceX, Micron, and GameStop, and recalls how his refusal to invest in tech stocks during the late 1990s was vindicated after the dotcom bubble burst.

1 reports · 1 sources · Updated Jul 17, 02:30 PM UTC

GameStop CEO Ryan Cohen stated that Sony's plan to halt physical game disc production by 2028 is 'totally irrelevant' to the company's business, as software now accounts for less than 12% of revenue. Speaking to BloombergTech, Cohen emphasized that collectibles, including apparel, toys, and trading cards, now drive over half of GameStop's business. This comes amid GameStop's controversial $56 billion unsolicited bid to acquire eBay, which eBay's board rejected as 'neither credible nor attractive.' GameStop's FY2025 financials show software revenue dropped 27% to $729.3 million (20.1% of total), while collectibles surged 47% to $1.06 billion (29.2%). Hardware and accessories remain the largest category at $1.84 billion (50.7%). Cohen plans to take the eBay offer directly to shareholders.

1 reports · 1 sources · Updated Jul 17, 01:51 PM UTC

GameStop CEO Ryan Cohen stated that Sony's plan to halt physical game disc production by 2028 is 'totally irrelevant' to the company's business, as software now accounts for less than 12% of revenue while collectibles make up over half. The comments came during a BloombergTech interview amid GameStop's controversial $56 billion unsolicited bid to acquire eBay. Cohen's characterization slightly differs from GameStop's own filings, which show software at 20.1% of FY2025 net sales ($729.3 million), collectibles at 29.2% ($1.06 billion), and hardware/accessories at 50.7% ($1.84 billion). However, year-on-year trends support his stance: software revenue dropped 27.5% while collectibles surged 47.7%. eBay's board rejected the acquisition proposal as 'neither credible nor attractive,' but Cohen plans to take the offer directly to shareholders.

1 reports · 1 sources · Updated Jul 17, 01:51 PM UTC

GameStop CEO Ryan Cohen stated that Sony's plan to halt physical game disc production by 2028 is 'totally irrelevant' to the company, as software now accounts for less than 12% of revenue while collectibles make up over half. The comments came during a Bloomberg interview focused on GameStop's controversial $56 billion unsolicited bid to acquire eBay, which eBay's board rejected as 'neither credible nor attractive.' GameStop's FY2025 financial data shows software revenue dropped 27% to $729.3 million (20.1% of total), while collectibles surged 47% to $1.06 billion (29.2%). Hardware and accessories remain the largest category at $1.84 billion (50.7%). Cohen plans to take the eBay offer directly to shareholders.

1 reports · 1 sources · Updated Jul 17, 01:51 PM UTC

GameStop CEO Ryan Cohen concluded a high-profile eBay selling event, generating $168,421.39 from personal collectibles. This stunt was launched after GameStop's unsolicited $55.5 billion acquisition offer for eBay was rejected, with Cohen stating he was selling items to help pay for the platform. The highest-selling item was a large Master Chief statue from Halo 2, which fetched $15,100 after 105 bids. Other significant sales included two signs from closed GameStop stores for $14,921 and South Park statues for $13,400. A Donald Trump trading card also sold for $6,470. Although the total earnings represent a negligible fraction of the proposed acquisition price, the event garnered significant media attention. Cohen's eBay account was temporarily suspended due to high price points but was quickly reinstated. Some items, such as used socks, were removed for violating policy. The event underscores Cohen's aggressive and unconventional approach to corporate strategy and public engagement as he continues to pursue leadership over a combined GameStop and eBay entity.

1 reports · 1 sources

This Engadget Podcast episode, hosted by Devindra Hardawar and Igor Bonifacic, covers major technology announcements from Google's recent Android Show. The primary focus is on the official launch of Googlebooks, a new line of AI-centric laptops designed to evolve the Chromebook concept with enhanced Android interoperability. Additionally, the hosts discuss Android 17, highlighting its new agentic upgrades and deep integrations with Gemini AI for app automation. Beyond Google, the episode analyzes significant industry developments, including eBay's rejection of Gamestop's acquisition offer as uncredible. It also reports on a new joint venture among U.S. cellular carriers aimed at eliminating service dead spots. Legal and safety concerns in tech are addressed through the lawsuit against OpenAI by the spouse of an FSU shooting victim who utilized ChatGPT for planning. Other notable updates include Apple's customization improvements for the iOS Camera app and Amazon's strategic shift in positioning Alexa as a dedicated shopping assistant. The podcast provides a comprehensive overview of these key events shaping the current technology landscape.

1 reports · 1 sources

GameStop CEO Ryan Cohen has proposed a $56 billion acquisition of eBay, a move widely ridiculed by Wall Street traders and sophisticated investors who deem the offer neither credible nor attractive. eBay’s board rejected the proposal, citing financing gaps and strategic misalignment, as Cohen’s retail background contrasts sharply with eBay’s profitable e-commerce model. Critics highlight that Cohen’s disclosed resources—$9 billion in cash and $20 billion in borrowed funds—fall short of eBay’s market capitalization, suggesting potential shareholder dilution. However, the author argues against dismissing Cohen entirely, noting his operational success in stabilizing GameStop since 2023. Despite GameStop being a struggling retailer, Cohen strengthened its balance sheet and maintained a $10 billion market cap through strategic store closures and cash accumulation. Unlike other meme stocks that collapsed, GameStop remains viable under his leadership. Cohen, also the founder of Chewy, appears undeterred by the rejection and has hinted at a possible hostile bid. Analysts suggest there may be method to his apparent madness, viewing this as a potential exit strategy for GameStop. The situation underscores the tension between traditional financial skepticism and Cohen’s unconventional track record in turning around distressed assets.

1 reports · 1 sources

Doug Ellin, the creator of the hit HBO series 'Entourage,' attended the securities fraud trial of prominent short-seller Andrew Left in Los Angeles on Thursday. Ellin stated he was present to support Left, whom he described as a 'good friend.' The appearance highlights a pop culture connection, as Left was reportedly referenced in a third-season episode of the show under the name 'Andy Left.' Left is currently facing serious charges of market manipulation and deceiving retail investors, with prosecutors alleging he generated over $20 million in illicit profits. His defense team argues that Left merely shared his honestly held opinions about the stocks in question. This trial, which began recently and is expected to last three weeks, marks a significant legal challenge for Left, who gained fame for betting against major companies like Valeant Pharmaceuticals and GameStop. The presence of a high-profile entertainment figure like Ellin adds a unique dimension to the courtroom proceedings, drawing additional media attention to the case. The trial is taking place in a Los Angeles court, where both sides are presenting their arguments regarding the legality of Left's trading activities and public statements.

1 reports · 1 sources

This article provides an analytical perspective on GameStop Corp.'s unexpected takeover bid for eBay Inc., characterizing the move not as a genuine financial acquisition attempt but as a strategic maneuver by GameStop CEO Ryan Cohen. According to Matt Levine of Bloomberg, the proposal serves as a bizarre yet calculated method to force eBay's board of directors and shareholders to consider Cohen's personal desire to lead the e-commerce giant. The analysis highlights that Cohen lacks the necessary capital to actually purchase eBay, suggesting the bid is effectively a high-profile job application rather than a traditional corporate merger. The piece explores the implications of this unconventional strategy within the context of corporate governance and activist investing. Additionally, the newsletter briefly touches upon unrelated financial topics, including legal fees associated with fund formation for Adani Green. The primary focus remains on the intricate dynamics between GameStop and eBay, illustrating how non-traditional tactics are being employed to influence executive leadership changes in major technology and retail corporations.

1 reports · 1 sources

eBay’s board of directors has formally rejected an unsolicited acquisition proposal from GameStop CEO Ryan Cohen, describing the offer as neither credible nor attractive. Cohen had previously outlined a plan during a CNBC interview to acquire eBay, a company valued at approximately $56 billion, using $20 billion in stock and $20 billion in private investment. eBay Chairman Paul S. Pressler responded with a letter citing significant concerns regarding the financial proposal's uncertainty, potential leverage risks, and negative impacts on long-term growth. The board also highlighted issues with GameStop’s governance and executive incentives. Cohen’s remarks, including his admission that he lacks passion for GameStop and prefers leading eBay, have drawn sharp criticism and confusion from analysts and journalists. Techdirt characterizes the bid as bizarre and mathematically unsound, noting that eBay is five times larger than GameStop. The rejection underscores the disconnect between Cohen’s ambitions and corporate reality, leaving questions about his future leadership at GameStop amidst poor company performance and controversial public statements.

1 reports · 1 sources

This financial analysis argues that Costco (COST) represents a superior investment choice compared to GameStop (GME), particularly for retirement portfolios seeking stability. The article critiques GameStop's recent performance, highlighting a 16.84% miss on Q3 revenue estimates, a significant increase in long-term debt to $4.16 billion, and high volatility with a beta of 1.833. It dismisses the hype surrounding Ryan Cohen's bid for eBay as speculative theater with low probability of success. In contrast, Costco is praised for its robust subscription-based business model, which generates predictable recurring revenue and supports consistent dividend growth. The retailer reported 45.5% earnings growth and maintains a strong return on equity of 29.6%. With a lower beta of 0.908 and steady long-term stock appreciation, Costco offers the capital efficiency and price stability suitable for conservative investors. The piece also briefly mentions Walmart's strong performance but positions Costco as the primary alternative to the risks associated with meme stocks like GameStop.

1 reports · 1 sources

GameStop Corp. (GME) shares declined by 5% following reports that the video game retailer's audacious $56 billion acquisition offer for eBay was rejected. Despite the setback, the stock remains above its 52-week low, supported by a robust balance sheet featuring a $4.2 billion cash reserve. This liquidity provides a safety net as the company continues its transformation from a brick-and-mortar retailer into a diversified technology and investment vehicle. In March, GameStop reported fourth-quarter fiscal 2025 earnings that significantly exceeded analyst expectations, with an adjusted EPS of $0.49 compared to the consensus of $0.31. Although net revenue of $1.1 billion missed forecasts, the focus remained on profitability and bottom-line strength. The stock continues to display high volatility, decoupling from broader mid-cap trends like the S&P MidCap 400 Index, driven largely by sentiment and strategic announcements rather than traditional consumer cyclical metrics. With a beta of 1.9, GameStop remains a high-stakes asset for retail investors who prioritize its financial solvency over conventional valuation methods in an increasingly digital gaming industry.

1 reports · 1 sources

In May 2026, eBay officially rejected GameStop’s unsolicited $55 billion takeover proposal, labeling the offer neither credible nor attractive due to significant financing challenges and potential debt burdens. Wall Street analysts largely dismissed the bid as unrealistic, citing GameStop’s smaller market capitalization compared to eBay. Despite the rejection, GameStop CEO Ryan Cohen signaled intentions to persist. Concurrently, the trading card collectibles market continues to surge, with secondary-market sales exceeding $616 million in April 2026 and record grading volumes reported by Card Ladder and GemRate. Industry confidence remains high, bolstered by long-term investments such as Fanatics’ exclusive deal with FIFA. However, fraud concerns are rising; PSA reported preventing over $200 million in counterfeit collectibles in 2025, with Pokémon cards and iconic sports cards being primary targets. Additionally, Nikola Jokic joined the million-dollar card club with a recent sale, highlighting the sustained financial interest in modern sports memorabilia. The article also reflects on historical market dynamics, referencing the 1990s Fleer production era.

1 reports · 1 sources

eBay has officially rejected an unsolicited $56 billion takeover offer from GameStop, deeming the proposal neither credible nor attractive. eBay’s board cited significant concerns regarding GameStop’s financing structure, potential operational risks, and the excessive debt burden of the deal. Despite GameStop CEO Ryan Cohen’s ambition to merge the companies to compete with Amazon, eBay emphasized its strong standalone financial position and successful strategic turnaround. The rejection highlights the vast disparity in market capitalization between the two firms and underscores skepticism about GameStop’s ability to fund such a massive acquisition.

41 reports · 21 sources · Updated Jun 29, 01:52 PM UTC

eBay’s board has officially rejected an unsolicited $56 billion acquisition offer from GameStop CEO Ryan Cohen, deeming the proposal neither credible nor attractive. The rejection cites significant concerns regarding financing uncertainty, operational risks, and the substantial debt burden required for a company four times GameStop’s size. Despite Cohen’s claims of secured funding and potential synergies to compete with Amazon, analysts and eBay’s leadership emphasized the lack of strategic fit and financial feasibility. The decision underscores eBay’s confidence in its standalone growth trajectory, while GameStop faces investor skepticism and stock volatility following the failed high-profile bid.

24 reports · 18 sources · Updated May 17, 10:30 PM UTC

GameStop CEO Ryan Cohen has firmly responded to eBay's rejection of his unsolicited $56 billion takeover bid, asserting that the e-commerce giant's board should not dismiss the offer without proper engagement. In a letter to eBay Chairman Paul Pressler and an interview with Piers Morgan, Cohen argued that shareholders deserve the opportunity to evaluate the $125 per share proposal. He criticized eBay's management, specifically highlighting CEO Jamie Iannone's substantial compensation compared to his own owner-operator model at GameStop. Cohen hinted at potential next steps to pressure the board, including possible moves to influence director elections, although analysts note his current 5% stake may be insufficient for such actions. eBay previously rejected the bid citing concerns over financing, long-term growth impact, and leadership structure. Cohen emphasized his commitment by noting his significant personal investment in GameStop stock and lack of salary, contrasting this with eBay's executive pay structures. The situation highlights a significant corporate conflict as Cohen seeks to combine the two companies despite eBay's stance that the proposal is neither credible nor attractive.

1 reports · 1 sources

GameStop CEO Ryan Cohen has formally urged eBay's board of directors not to dismiss his $56 billion takeover proposal without thoroughly engaging with its substance. In a letter addressed to the chairman of eBay, Cohen argued that shareholders deserve a fair opportunity to evaluate the offer, which consists of a mix of stock and cash. This communication follows eBay's rejection of the bid on Tuesday, just one day prior to Cohen's latest statement. According to the letter reviewed by Reuters, Cohen had previously requested a meeting with eBay's board to discuss the proposal, but the request was declined. The situation highlights an escalating corporate conflict between the two major e-commerce entities. Cohen's insistence suggests he intends to keep pressure on eBay's leadership, potentially appealing directly to shareholders or pursuing further aggressive tactics to force a reconsideration of the deal. The event underscores significant volatility in the retail sector and raises questions about corporate governance and shareholder rights in high-stakes merger negotiations.

1 reports · 1 sources

Best Buy has introduced a significant price reduction for Hyrule Warriors: Age of Imprisonment, a Nintendo Switch 2-exclusive title developed by Koei Tecmo. While the standard retail price remains fixed at $69.99 across major platforms like Amazon, GameStop, and the Nintendo eShop, Best Buy has lowered its price to $49.99, representing a 30% discount. This offer includes free shipping for physical copies. Furthermore, members of the My Best Buy Plus program can purchase the game for just $39.99, achieving savings of up to 43%. The article highlights that this is the third installment in the Hyrule Warriors series and a spinoff of the Dynasty Warriors franchise, featuring gameplay where players control powerful Hyrulean champions. The piece also briefly mentions a separate preorder deal for Star Fox on the Switch 2 via Amazon, noting its upcoming release and connection to recent media appearances. This news serves as a consumer alert for gamers looking to maximize value on their Switch 2 software purchases, emphasizing the exclusivity of the current deal to Best Buy and its loyalty program members.

1 reports · 1 sources

GameStop CEO Ryan Cohen has intensified his campaign to acquire eBay, proposing a $125 per share deal structured as half cash and half stock. In a recent podcast interview, Cohen outlined his strategy to transform eBay under an owner-operator model, leveraging his e-commerce experience from Chewy. He argues that eBay is significantly underperforming due to excessive expenses, citing $5.5 billion in costs against $11 billion in revenue, and promises $2 billion in immediate cost cuts to boost profitability. Although eBay’s board rejected the initial offer as not credible, Cohen remains undeterred, asserting that the deal is highly attractive to shareholders despite being unfavorable to current management who face replacement. Backed by approximately $9 billion in cash and a $20 billion financing commitment, Cohen plans to bypass the board and appeal directly to eBay shareholders. He emphasizes that e-commerce is within his circle of competence and views eBay as the second-largest e-commerce asset in the U.S. with substantial untapped potential for long-term growth and value creation.

1 reports · 1 sources