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Starboard pressures eBay to sell classifieds business

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Activist shareholder Starboard Value LP on Tuesday piled more pressure on eBay I...

The German headquarters of online marketplace eBay is pictured at Europarc Dreilinden business park south of Berlin in Kleinmachnow, Germany, August 6, 2019. REUTERS/Fabrizio Bensch

EBay last year agreed to sell its ticketing unit, StubHub, for $4.05 billion in cash, under pressure from Starboard and Elliott Management Corp. They had also urged it to sell eBay Classifieds Group as part of a plan that could double the company’s value. In Sept. last year, Chief Executive Officer Devin Wenig stepped down, citing differences with the board revamp carried out in March by the company following pressure from the activist investors.

 

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