Ebay Is Splitting PayPal Off as a Separate Company
Ebay has just announced that it’s to split PayPal off as an independent, publicly traded company in 2015. The separation—which will see PayPal spun off, tax-free, naturally—means that Ebay’s e-commerce business will be distinct from its PayPal payments unit. Devin Wenig, president of eBay Marketplaces, will become CEO of the new eBay, while American Express…