eBay Rethinking Future of StubHub and Classified Business
SAN JOSE, Calif. (AP) — eBay is considering the future of its StubHub and its classified ads business.
The e-commerce company said Friday that it's initiating a strategic review, but there's no guarantee that it will result in a sale, spin-off or other business combination.
Activist investor Elliott Management said in a letter to the San Jose, California, company in January that it believed it would be better off without those businesses. Elliott wants eBay to focus on its online marketplace, saying that the change in direction could double the company's stock price by the end of next year.
eBay Inc. is also adding Jesse Cohn of Elliott and Matt Murphy of Marvell Technology to its board. The company will add an independent director later in the year.