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GameStop CEO bids $55.5 B for eBay, funding gap

5/6/2026

32 6 Full Breakdown

Summary

Cohen Bids eBay

GameStop CEO Ryan Cohen offered $55.5 billion to buy eBay at $125 per share, half cash, half stock.
Cohen said cash would come from $9.4 billion and up to $20 billion debt, leaving a $16-20 billion gap.
eBay’s board set a meeting this week to review the bid and cut about 800 jobs.
Analysts said the deal may need share issuances that could dilute shareholders, with Cohen replying “It’s on our website” on funding.

Summary

eBay Acquires Depop

eBay reported Q1 2026 revenue of $3.1 billion, up 19% YoY, and profit of $512 million, up 2%.
The company now serves roughly 135 million buyers and its stock has risen about 60% over the past year.
In February, eBay acquired second-hand fashion app Depop to draw younger shoppers as a key turnaround move.
Shares climbed 7% to about $111 intraday but remained 11% below the $125-per-share offer price.

History

Historical Context

In July 2002 eBay bought PayPal for $1.5 billion, instantly giving the auction site a key online-payment system. After the 2015 spin-off that left PayPal with about 170 million users, the firm expanded globally through deals such as the $1.09 billion Xoom purchase. Now Ryan Cohen’s $55.5 billion offer to acquire eBay revives the earlier consolidation pattern.

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Cohen Bids eBay

GameStop CEO Ryan Cohen offered $55.5 billion to buy eBay at $125 per share, half cash, half stock.
Cohen said cash would come from $9.4 billion and up to $20 billion debt, leaving a $16-20 billion gap.
eBay’s board set a meeting this week to review the bid and cut about 800 jobs.
Analysts said the deal may need share issuances that could dilute shareholders, with Cohen replying “It’s on our website” on funding.

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