eBay Inc - EBAY STOCK NEWS

eBay has finalized an agreement with Emart to sell an 80.01% stake in its Korean businesses for approximately $3.0 billion USD (or 3.44 trillion KRW). The sale is subject to the Bank of Korea's approval and is expected to close by the end of this year or early next year. This strategic move aims to optimize eBay's portfolio and enhance value for shareholders. Emart plans to invest over 1 trillion KRW in fulfillment centers, improving delivery capabilities and creating a robust ecosystem in the Korean market.

eBay has expanded its Authenticity Guarantee service to include handbags sold for more than $500 from 16 luxury brands such as Gucci and Saint Laurent. This initiative is part of eBay's strategy to enhance trust among buyers and sellers in the growing luxury segment. The platform currently sells a handbag every 12 seconds and saw its luxury watches business grow significantly. With this expansion, eBay aims to solidify its position in the luxury market, catering to a demand that has surged with 31% year-over-year growth in luxury handbag sales.

eBay Inc. (NASDAQ: EBAY) appointed Steve Priest as Chief Financial Officer, effective June 21, 2021. Steve will manage eBay's financial operations globally, reporting to CEO Jamie Iannone. Previously, he served as CFO at JetBlue, where he drove innovation and customer satisfaction. With nearly 20 years at British Airways, Steve has held senior positions and brings extensive financial expertise. Interim CFO Andy Cring will assist in the transition after Steve's onboarding.

eBay Inc. (NASDAQ: EBAY) has appointed Stefanie Jay as the new Chief Business and Strategy Officer, effective May 10, 2021. This newly created role integrates Strategy, Business Operations, Analytics, and Communications to enhance data utilization and strategic storytelling. Stefanie brings over 20 years of experience from Walmart and Goldman Sachs. CEO Jamie Iannone highlighted her leadership skills, stating she will be instrumental in implementing eBay's tech-led transformation strategy. eBay continues to focus on empowering economic opportunities globally.

eBay Inc. (Nasdaq: EBAY) announced a $2.5 billion public offering of senior unsecured notes, comprising $750 million of 1.400% Notes due 2026, $750 million of 2.600% Notes due 2031, and $1 billion of 3.650% Notes due 2051. The offering's pricing is set at approximately 99.870%, 99.956%, and 99.909% of their respective principal amounts. eBay plans to use net proceeds to repay $750 million of 3.80% Notes due 2022 and $600 million of 2.60% Notes due 2022, with the remainder for general corporate purposes. The closing is expected on May 10, 2021.

eBay Inc. (Nasdaq: EBAY) reported strong first-quarter 2021 results, with revenue reaching $3.0 billion, a 42% increase year-over-year. Gross merchandise volume (GMV) was $27.5 billion, up 29%. GAAP net income rose to $569 million or $0.82 per diluted share, while non-GAAP net income reached $758 million or $1.09 per share. The company expanded its managed payments globally, achieving 52% of on-platform volume processed through this system. eBay also enhanced seller tools and reported robust growth in core categories, including sneakers and trading cards.

eBay, a leading luxury watch marketplace, has introduced an escrow payment option for transactions involving luxury watches priced over $10,000. This feature, powered by Escrow.com, enhances security and trust between buyers and sellers by withholding funds until the transaction is completed. eBay has seen a significant increase in demand for high-value collectibles, with over 196,000 luxury watches sold in 2020. The new escrow option aims to streamline buying and selling while building confidence among users in the luxury segment.

eBay is launching a series of in-person events nationwide to authenticate collectible items such as sneakers, luxury watches, and trading cards. Starting in Atlanta on April 9-10, collectors can have items appraised and authenticated on-site. Events will also occur in Nashville, Seattle, Las Vegas, and Austin in the following weeks. According to recent data, the global market for these collectibles is valued in the billions, highlighting the growing trend of viewing collections as investment opportunities. eBay's initiative aims to enhance buyer confidence through its Authenticity Guarantee program.

eBay Inc. announced the expiration of its cash tender offer for its $1 billion 2.60% Notes due 2022. As of March 23, 2021, $394.4 million, or 39.44% of the outstanding Notes, were validly tendered. Payment for these Notes is scheduled for March 24, 2021. The tender offer consideration is set at $1,024.39 per $1,000 principal amount, plus accrued interest. BofA Securities acted as Dealer Manager, while D.F. King & Co. served as the Tender and Information Agent.