Billions of their cash was also spent buying back stock trying to prop up the price (to no avail).
Unloading StumbleUpon and Skype is probably more of an admission that these were distractions from their business than a desperate search for cash. With the exception of PayPal, eBay has never really done any good with their acquisitions (Rent.com, shopping.com, half.com, land auctions like Kruse, etc.) from the standpoint of effective integration or growth. I can't think of one other time one of Meg's acquisitions paid off or resulted in the expected "synergies."
Just cleaning house after Meg Whitman f'ed up the place.
@nirreskeya: That was supposed to be a "just kidding" shorthand between the open parenthesis and the comma, which Gawker apparently both thinks is a tag and is unable to escape.
04/13/09
Unloading StumbleUpon and Skype is probably more of an admission that these were distractions from their business than a desperate search for cash. With the exception of PayPal, eBay has never really done any good with their acquisitions (Rent.com, shopping.com, half.com, land auctions like Kruse, etc.) from the standpoint of effective integration or growth. I can't think of one other time one of Meg's acquisitions paid off or resulted in the expected "synergies."
Just cleaning house after Meg Whitman f'ed up the place.
04/13/09
04/13/09