EBAY INC: management transactions · United States · SEC (Form 4)

About EBAY INC

eBay Inc. is a global online commerce platform listed on the Nasdaq under the ticker EBAY, in the United States (United States). Founded in 1995 and headquartered in San Jose, California, the company is one of the original pioneers of the internet marketplace model and remains closely associated with recommerce: the buying and selling of new, used, refurbished, and collectible goods. Its business model is centered on connecting millions of buyers and sellers across a broad and diversified set of categories, including electronics, automotive parts and accessories, collectibles, fashion, home goods, and everyday consumer items. eBay’s core economic engine is its marketplace ecosystem. The company primarily monetizes through transaction fees, advertising and promoted placements, and a suite of services designed to improve discovery, trust, and conversion. First-party advertising offerings, especially Promoted Listings, have become an increasingly important growth lever, while eBay continues to invest in mobile experience, payments, fraud prevention, and the overall buying and selling journey. This combination supports a platform model rather than a traditional retail model, giving eBay a distinct competitive profile versus merchant-led e-commerce players. From a competitive standpoint, eBay occupies a unique niche. It is not a conventional retailer; it is a large-scale multi-seller marketplace with meaningful cross-border reach. In its latest annual reporting, the company disclosed 134 million active buyers and 2.3 billion live listings at the end of 2024, with about 49% of GMV generated outside the United States. That international footprint is a structural strength, although eBay continues to compete with major general merchandise marketplaces, category specialists, and social-commerce platforms. Its positioning is strongest where breadth of supply, used-goods economics, and buyer-seller network effects matter most. Recent developments have been strategically important. In February 2026, eBay reported solid full-year 2025 results, and in April 2026 it reported first-quarter 2026 results that showed stronger GMV growth and improved profitability. The company also announced the acquisition of Depop, a community-driven fashion resale marketplace, for approximately $1.2 billion in cash, a move aimed at strengthening eBay’s exposure to younger consumers and fast-growing fashion recommerce. In parallel, eBay continued to return capital to shareholders through dividends and share repurchases, underscoring its cash generation profile. For international equity investors, eBay remains a mature but strategically relevant consumer internet and commerce platform. It offers exposure to e-commerce monetization, circular-economy trends, and advertising-led marketplace growth, while maintaining a disciplined capital-return framework and a clear focus on selected growth categories.