Was hoping $GME would get in on time to cancel this acquisition. But too late. $1.4B of shareholder capital wasted by $EBAY on a company that did ~$136M in revenue last year while posting a ~$56M LOSS. Add it to the list of horrible acquisitions that this eBay board have resorted to for growth, due to their sheer inability to grow the business organically.
And you know what else is an eBay signature move? At least 1-2 degrees of shadiness, as per usual. The thing I find weird about this acquisition in particular is that Bob Swan, who spent nine years as eBay's CFO - landed at General Atlantic as an Operating Partner directly after departing eBay. General Atlantic just so happened to be the firm that anchored Depop's $62M Series C in 2019.
Bob eventually moved on to Intel as CEO, then Andreessen Horowitz, but his stop at General Atlantic created a quiet, traceable bridge and begs the questions: did eBay's former top finance executive pass through the same firm that became Depop's most significant institutional backer by coincidence? Who are all the firms and people that will receive a handsome return/carry from this shambolic acquisition closing?
My guess? Ryan and $GME may have raised close to $50B cash through equity and debt, at a post-acquisition CombinedCo valuation range of $66-111B and is about to submit an all cash offer to acquire $EBAY
$GME NEW OFFER POTENTIAL LEAK
https://t.co/Ku9gRajqoG
“They have a new offer now. I mean this straight private equity thing”
We live in the most interesting of times…
@almaadeed 3/3
In the age of the Internet, creators are not recognized by their travel permits, but by what they create, by their influence, and by their ability to compete globally.
@almaadeed 1/2
The founders of digital companies should not think of themselves based on their nationality, but as creators of the world.
So when you sit on the chair of China, you don't see the secret of Chinese culture. It's simply a solid chair... Made in China, no more.
@almaadeed 2/3
Similarly, great technology should not be defined by geographical boundaries. It is a global software, it just happens to be developed in India, Brazil, Nigeria, Ukraine, or any other place.
@DOGE@DOGE_SEC@elonmusk@POTUS
I think today will be the day that is need especially cautions to all transactions on $GME. Be aware of market manipulation and dark pool abuse.
Yesterday’s $pbi call was fun. It was just us 10 twitter users watching again but some key insights.
- positive sentiment around doge
- the company is gushing cash flow
- guiding to inflection to growth in 2026
The call itself was hilarious and a bit low energy. Which is fine. It felt like the team was being held hostage in a mid-level office park in Scranton.