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October 1, 2014

What's PayPal's first solo move?

  • Major eBay competitors such as Amazon.com and newly public Alibaba might be more likely to partner with PayPal now that it's not married to a direct competitor.
    • By MAE ANDERSON
    AP Business Writer

    NEW YORK — PayPal's impending split from long-time partner eBay Inc. will ratchet up its appeal to online retail competitors such as Amazon.com and give it the freedom to aggressively take on new mobile pay challenger Apple Pay. For eBay, the challenge will be how to drive revenue without its fastest-growing division.

    The move marks a 180-degree turn for eBay Inc. CEO John Donahoe, who had been adamant in spurning activist investor Carl Icahn's call months ago to spin off PayPal. Donahoe, who will step down after the split is finalized in the second half of next year, said he now agrees that it's the right path for both companies.


     
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