eBay Inc. Lays Out its Three-Year Growth Plan
By: eBay Inc. Staff
eBay Inc. outlined its three-year growth strategy for analysts and media Thursday morning, showcasing the company’s leadership position in the technology-driven new commerce environment.
At the San Jose, Calif-based event, eBay said it intends to drive strong continued growth in its core Marketplaces, PayPal and GSI Commerce businesses. In 2015, the company expects to enable $300 billion of global commerce, compared to $175 billion in 2012. The company also expects revenues to grow over 50 percent to at least $21.5 billion in 2015, up from $14.1 billion in 2012.
“Led by mobile, a commerce revolution is under way,” said eBay Inc. President and Chief Executive John Donahoe in his opening remarks. “How we shop is being transformed, and eBay Inc. intends to be a leader in this new commerce world.”
Donahoe indicated that eBay Inc. has three strong advantages that he believes will drive the company’s growth, namely an expanded addressable market, mobile commerce leadership and innovation, and a strong portfolio of technology assets and capabilities. Executives shared their view that eBay Inc. is no longer just an ecommerce company; it’s a true global commerce leader that is being boosted by the synergy of the company’s core businesses and assets.
Based on current business trends and expectations, the company provided select financial outlook for the three-year period ending 2015. Led by continued innovation in the company’s core businesses and the company’s mobile commerce leadership, total company revenues are expected to reach $21.5 billion to $23.5 billion in 2015, up from $14.1 billion in 2012, said Bob Swan, eBay Inc’s Senior Vice President, Finance and Chief Financial Officer.
“I believe we will lead and be one of the major winners in the revolution,” said Donahoe, noting that over the past five years, the company has demonstrated its ability to innovate and execute. “And as we look ahead, we believe that the opportunities align with our company’s full potential.”
“I like our position,” he said.