GameStop has just put forward a $56
billion offer to buy eBay. The
e-commerce giant was evidently caught
off guard by the bid and responded with
the energy of every girl I asked out in
middle school. Yet received no
communication from GameStop prior to the
entirely unsolicited offer. To give you
a sense of scale, eBay has a market cap
over four times the size of GameStop
itself, making this a wild swing for the
retailer. The funds for the proposal are
evidently split 50/50 between cash and
GameStop stock, though it's unclear from
the wording if they're referring to
shares or $28 billion worth of scratched
up trade-in crash bandicoot CD. Part of
a larger strategy to pivot into
ecommerce, leveraging GameStop's retail
locations as a fulfillment network.
However, Cohen likely has a more
personal motive as his incentive
structure guarantees him $35 billion in
stock if he can boost GameStop's market
value to a h 100red billion. That's a
lot of Funko Pops.