Connect with us

Business

As PayPal Split Looms, eBay Plans to Think Small

Published

on

This July 16, 2013 file photo shows an eBay sign at eBay headquarters in San Jose, Calif. EBay plans to grow by thinking small as it prepares for life apart from PayPal. CEO John Donahoe said Wednesday, April 22, 2015, the company says it is moving toward the spinoff with "clarity and speed." (AP Photo/Ben Margot, File)

This July 16, 2013 file photo shows an eBay sign at eBay headquarters in San Jose, Calif. EBay plans to grow by thinking small as it prepares for life apart from PayPal. CEO John Donahoe said Wednesday, April 22, 2015, the company says it is moving toward the spinoff with “clarity and speed.” (AP Photo/Ben Margot, File)

MAE ANDERSON, AP Technology Writer

NEW YORK (AP) — EBay plans to grow by thinking small as it prepares for life apart from PayPal.

The company says it is focusing on getting more people, as well as small- to mid-size businesses, to buy and sell items on its popular online marketplace.

The effort comes as it attempts to address investor concerns about how it will fare later this year after it spins off its PayPal payments division, which has long been EBay’s fastest-growing segment.

CEO John Donahoe said Wednesday the company is moving toward the spinoff with “clarity and speed.”

EBay’s first-quarter earnings may have mitigated investors’ concern somewhat. The results beat expectations and revenue, excluding the impact of the stronger dollar, grew in both segments. A stronger dollar cuts into revenue generated overseas when it’s translated back into dollars.

“We are deeply committed to setting up eBay and PayPal to succeed and to deliver sustainable value to our shareholders,” Donahoe said.

The e-commerce company is seeking to reinvigorate its marketplace business, which includes the e-commerce arm of eBay. It stumbled last year when it had to deal with a change in Google’s algorithms that made eBay products come up in search results less often. It was also hit by a data breach that led to all its users being required to change their password.

For the quarter ending March 31, marketplaces revenue fell 4 percent to $2.07 billion, hurt by the stronger dollar. But the company said it sees signs of stabilization in active buyers and gross merchandise volume, or the total amount of goods sold, excluding the impact of the stronger dollar.

“Our quarter one results are encouraging,” said Devin Wenig, who will be CEO of eBay after the spinoff, in a call with investors. “We are certainly not ready to declare victory over last year’s (Google algorithm) and password reset challenges but we are making progress.”

Wenig said eBay will focus on growing its 25 million sellers and 157 million active buyers by focusing on small- and medium-size merchants that make of 70 percent of the global retail market. He said eBay is a “partner, not a competitor,” to those businesses, perhaps a nod to online retailer Amazon, which is eBay’s biggest competitor in the third-party seller area.

Individual consumers are another focus.

“There is $100 billion of value trapped in people’s closets and garages, and that’s just in the U.S.,” Wenig said.

Earlier this month EBay and PayPal agreed in an SEC filing that PayPal will still process at least 80 percent of transactions on eBay after the splitoff, even though both can work with new partners. The agreement lasts five years with a one-year transition period. The companies will continue to share data and will not build competing products during the agreement period.

Shares of eBay Inc., which is based in San Jose, California, rose $3.01, or 5.3 percent, to $59.76 in aftermarket trading. The stock had been up about 1 percent since the beginning of the year.

Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Activism

Oakland Post: Week of July 1 – 7, 2026

The printed Weekly Edition of the Oakland Post: Week of July 1 – 7, 2026

Published

on

To enlarge your view of this issue, use the slider, magnifying glass icon or full page icon in the lower right corner of the browser window.

Continue Reading

Activism

Inaugural Juneteenth Awards Ceremony Celebrates the Fillmore’s Black History, Leadership and Resilience

Addressing more than 100 Black and Asian attendees, San Francisco Mayor Daniel Lurie stated “San Francisco is reliant on the Black community, and we must invest in this community.”

Published

on

District 5 Supervisor Bilal Mahmood, Rev. Dr. Amos Brown, Pastor Emeritus of Third Baptist Church, SF Mayor Daniel Lurie. Photo by Linda Parker Pennington.
District 5 Supervisor Bilal Mahmood, Rev. Dr. Amos Brown, Pastor Emeritus of Third Baptist Church, SF Mayor Daniel Lurie. Photo by Linda Parker Pennington.

By Linda Parker Pennington

The Fillmore Community Ambassadors held its first annual Juneteenth Wesley Johnson White Horse Awards ceremony on June 19 inside the newly reopened Fillmore Heritage Center.

The event featured awards for former San Francisco mayors London Breed and Willie Brown, along with Third Baptist Church Pastor Emeritus, Rev. Dr. Amos Brown.

The Koret Heritage lobby at the newly reopened center at 1330 Fillmore St. held a standing-room-only, culturally diverse and multi-generational audience while the art gallery featured photos of Fillmore community members in action, red Japanese lanterns, art and calligraphy, and Chinese artwork, giving the space a multicultural feel.

Addressing more than 100 Black and Asian attendees, San Francisco Mayor Daniel Lurie stated “San Francisco is reliant on the Black community, and we must invest in this community.”

District 5 Supervisor Bilal Mahmood acknowledged that “the Fillmore community has had a difficult history. Thanks to Rev. Amos Brown’s continuous focus on accountability and resistance, you hold us accountable and continue to inspire us.”

Mahmoud is referring to the Fillmore’s Japanese residents who were forced from their homes and sent to concentration camps during World War II. Black people occupied those homes until the return of their Japanese neighbors and then gave them back, while homes that had been unoccupied were lost. The presence of the Asian community on Juneteenth is a testament to that shared history.

In receiving his honor, Amos Brown elicited a powerful spontaneous call-and-response, where members of San Francisco’s many Black churches proudly shouted out the names: “Bethel AME! Providence Baptist! Jones Memorial! Glide!”

Awards program Master of Ceremonies Shawn Richards of Brothers Against Guns warmly introduced Breed, highlighting her many accomplishments, particularly on “March 16, 2020, when she became the first mayor to shut down a major U.S. city due to COVID-19, saving thousands of lives.”

The audience was captivated by Breed’s emotional speech touching on past traumas, present conditions, and future hopes for the neighborhood where she grew up.

She recalled another trauma of the neighborhood during the City’s redevelopment era in the 1960s, where Black residents were forced to move with a promise of being able to return that was largely unfulfilled.

“We remember when this land was just a field because they bulldozed hundreds of Victorian homes that Black people owned. They built the Fillmore Center, where most Black people can’t afford to live or start their own business. But we are still here.”

Continue Reading

Activism

Black Repertory Group Needs Volunteers to Help Shape the Next Generation of Artists and Leaders

Legendary performers such as Whoopi Goldberg and Danny Glover worked with and were inspired by BRG’s founders. More recently, Grammy award-winning artist Kehlani attended the Black Repertory Group Summer Day Camp for several years.

Published

on

Courtesy image.
Courtesy image.

By Sean Vaughn Scott, Special to The Post

For more than 60 years, the Black Repertory Group (BRG) has changed lives through the arts.

Founded in 1964 by educators and visionaries Birel L. Vaughn and Nora Vaughn, BRG has become one of America’s oldest continuously operating Black theater institutions. For generations, it has preserved culture, developed talent, and provided opportunities for young people to discover their voices and their potential.

The results speak for themselves.

Legendary performers such as Whoopi Goldberg and Danny Glover worked with and were inspired by BRG’s founders. More recently, Grammy award-winning artist Kehlani attended the Black Repertory Group Summer Day Camp for several years.

Long before international recognition, Kehlani performed on the BRG stage. During a summer day camp production of  “Princess and da Frog,” she portrayed Ray, the lovable firefly whose light guided others through the darkness. Her journey is proof that today’s camper may become tomorrow’s artist, entrepreneur, educator, or leader.

Located at 3201 Adeline St. in Berkeley, BRG continues that mission through its Youth Summer Day Camp of the Arts.

BRG is currently accepting applications and maintains an open enrollment program. Students may enroll throughout the summer as space permits and immediately become part of the BRG family.

We are also proud to be a multicultural opportunity program, welcoming children and families from all backgrounds, cultures, and communities. Through theater, music, dance, public speaking, visual arts, technical theater, and leadership development, students gain confidence, discipline, creativity, and lifelong skills.

As our programs grow, so does our need for volunteers.

We are seeking community members to assist with youth mentoring, registration, costumes, set construction, painting, props, ushering, photography, social media, marketing, technical theater, and fundraising activities. Whether you volunteer for a few hours or throughout the season, your support directly impacts the lives of young people.

BRG also partners with churches, civic organizations, alumni associations, fraternities, sororities, and community groups through theater party fundraisers, group sales, and buy-out performances. These partnerships have helped organizations raise funds while supporting arts and cultural programming.

The theater also serves as the home of the Berkeley NAACP Chapter, which meets every second Saturday of the month from 1 to 3 p.m.

For more than six decades, the Black Repertory Group has remained committed to one belief: every child deserves an opportunity to shine.

The next great artist may already be among us.

The next Kehlani may already be walking through our doors.

We invite you to volunteer, enroll, participate, and become part of the legacy.

For more information please go to www.blackrepertorygroup.com, call (510) 652-2120, or email info@blackrepertorygroup.com

Sean Vaughn Scott is the director of the Black Repertory Group.

Continue Reading

Subscribe to receive news and updates from the Oakland Post

* indicates required

CHECK OUT THE LATEST ISSUE OF THE OAKLAND POST

ADVERTISEMENT

WORK FROM HOME

Home-based business with potential monthly income of $10K+ per month. A proven training system and website provided to maximize business effectiveness. Perfect job to earn side and primary income. Contact Lynne for more details: Lynne4npusa@gmail.com 800-334-0540

Facebook

Trending

Copyright ©2021 Post News Group, Inc. All Rights Reserved.