For the longest time, eBay and PayPal have been synonymous entities, but even the strongest bonds sometimes have to come to an end. That is exactly what is going to happen in 2015 when auction giant, eBay, lets PayPal go and operate as its own separate business so that it can better focus their efforts against the growing threat of Apple Pay, Square and other upcoming payment schemes.
As a result of all these changes, eBay’s CEO and CFO will step down, but remain as board members, leaving the door open for Devin Wenig to take the reins, and Dan Schulman of American Express will be moving over as the new CEO of PayPal in 2015. This comes after months of pressure to cut away PayPal, and although eBay has previously fought tooth and nail to stop that from happening, it appears the inevitable has happened, though it appears that this arrangement could be best for both companies – “Separation will create sharper strategic focus and better position each business to capitalize on those growth opportunities as independent companies”. That sounds pretty good to me.
What do you think about the end of an era, the split of eBay and PayPal? Let us know your thoughts in the comments below.