PayPal on Monday returned to the Nasdaq independent of eBay. PayPal debuted at a market value 1.4 times its former parent — $46.6 billion — while eBay’s capitalization shrunk to $34 billion. The companies agreed to split in September due to market pressures and some nudging by corporate raider turned shareholder value advocate Carl Icahn. Although analysts are picking PayPal as the clear winner, eBay was sanguine about the divide. “Both standalone companies are well positioned for success,” said eBay spokesperson Abby Smith.
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PayPal Flies Solo on Nasdaq
Posted by: John P. Mello Jr. July 21, 2015 12:51 PMPayPal on Monday returned to the Nasdaq independent of eBay. PayPal debuted at a market value 1.4 times its former parent — $46.6 billion — while eBay’s capitalization shrunk to $34 billion. The companies agreed to split in September due to market pressures and some nudging by corporate raider turned shareholder value advocate Carl Icahn. Although analysts are picking PayPal as the clear winner, eBay was sanguine about the divide. “Both standalone companies are well positioned for success,” said eBay spokesperson Abby Smith.