eBay, PayPal to split July 17


San Jose, Calif. – The long-anticipated separation of eBay Inc. and PayPal Inc. into two independent, publicly traded companies is almost here. Now that the split has received official approval from the eBay board of directors, it is expected to occur July 17.

The separation will occur through a pro rata distribution of all of the stock of eBay’s subsidiary PayPal Holdings Inc. to eBay stockholders. In the distribution eBay stockholders will receive one share of PayPal common stock for each share of eBay common stock held as of July 8. The distribution of PayPal common stock is expected to occur on July 17.

PayPal will be an independent, publicly traded company and will be listed on the Nasdaq Stock Market under the ticker “PYPL.” eBay will continue to trade on the Nasdaq Stock Market under the ticker “EBAY.”

PayPal was initially founded as an independent company in 1998 and joined eBay in 2002. PayPal intends to become a platform for a world in which all commerce is performed digitally.

“eBay and PayPal are two great, special businesses,” said John Donahoe, president and CEO of eBay. “As separate, independent companies, eBay, led by Devin Wenig, and PayPal, led by Dan Schulman, will each have a sharper focus and greater flexibility to pursue future success in their respective global commerce and payments markets. I am confident that eBay and PayPal each have the right leadership team, strategy, structure and operational discipline to create sustainable, long-term value for stockholders and deliver great opportunities and experiences for customers worldwide.”