About Elliott

Elliott is an investment firm founded in 1977 that today manages approximately $34 billion of capital for both institutional and individual investors. We are a multi-strategy firm, and investing in the technology sector is one of our most active and successful efforts.

Elliott’s approach to all of its investments is distinguished by our extensive due diligence, and our efforts on eBay have followed this same approach. We have enlisted consultants, investment bankers, accountants, lawyers and former executives to analyze the e-commerce landscape as well as eBay and its component businesses. For the core Marketplace, this included surveys of more than 10,000 buyers and 700 sellers across the U.S., U.K. and Germany. Similarly, for StubHub we surveyed more than 1,250 buyers and 400 resellers of tickets, and for the Classifieds portfolio we surveyed roughly 6,500 users across Germany, the Netherlands, the U.K., Canada and Australia. We supplemented our diligence by consulting with a collection of experienced technology and retail leaders, including more than 100 former eBay employees and e-commerce executives.

We believe this time- and resource-intensive exercise has given us a thorough understanding of the Company’s strengths and challenges. We are convinced that the resulting recommendations will not only maximize shareholder value, but also best position the platform underpinning the entire eBay community to enjoy long-term success.