“This isn’t Meg Whitman’s Ebay anymore,” writes USA Today columnist Mark Veverka in his latest piece for the newspaper.
Chief Executive John Donahoe, Whitman’s successor at Ebay and former colleague at private-equity shop Bain, has done “an impressive job over the past six years recasting eBay into a retail and financial services outfit anchored by its core online marketplace business and PayPal payments division,” he notes.
Veverka makes his observations based on the company’s three-year plan, announced last Thursday at Analyst Day. At the San Jose, Calif-based event, the company argued “it’s turnaround strategy has worked and now the company is poised for growth, especially in the wide-open green field of mobile commerce and mobile payments,” writes Veverka.
“Donahoe & Co. repeatedly hammered home the point that Ebay Inc. (the company is stressing “Inc.” to emphasize that it is more than online auction) is no longer limiting itself to the $1 trillion online commerce market but targeting the $10 trillion total commerce market, which includes brick-and-mortar, traditional retail chains and their forays into online and mobile.”
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