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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| eBay Inc | NASDAQ:EBAY | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -1.21 | -2.29% | 51.54 | 50.70 | 52.00 | 52.875 | 51.435 | 52.63 | 6,712,818 | 23:29:00 |
From May 2019 to May 2024
EBay Inc. said it has sold back to Craigslist the 28% stake it has held in the classified marketplace since 2004.
The sale brings to an end an at-times contentious relationship between the two Web giants. EBay sued Craigslist in 2008, alleging Craigslist had diluted its stake, costing eBay its board seat. Craigslist charged that eBay had used its board seat to glean confidential information about its business.
EBay's stake was later restored, but it didn't regain a board seat.
Terms of the deal weren't disclosed. EBay originally bought the stake for $32 million.
EBay is planning to spin off its PayPal payments unit in this year's third quarter, creating a stand-alone marketplace business. It is also seeking a buyer for its eBay Enterprise unit.
EBay, based in San Jose, Calif., said all litigation with Craigslist would be dismissed as part of the deal.
Write to Greg Bensinger at greg.bensinger@wsj.com
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