eBay to sell off its classified ads business for $9.2B

From CNET: The biggest things selling on eBay lately are multibillion chunks of eBay's own business.

The e-commerce platform said Tuesday it's selling its classified ads business for $9.2 billion in cash and stock to Adevinta, a fellow online retailer based in Norway.

The deal comes as eBay has significantly slimmed down its operations over the years, which first started with the spin off of PayPal and the sale of its enterprise business in 2015. Activist investors Elliott Management and Starboard Value have agitated for the sale of both StubHub, a ticketing marketplace, and the classifieds business, which have now both been sold off. eBay late last year agreed to sell StubHub to Viagogo for $4.05 billion in cash.

What's mainly left of eBay is its main online marketplace, which has over the years diminished in influence in e-commerce. Walmart this year overtook eBay as the second-biggest online seller in the US, according to the researcher eMarketer, following years of lackluster growth at eBay.

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