On January 22, 2019, Elliott Management Corporation announced that it has released a letter outlining a significant value-creation opportunity at eBay. In the letter, Elliott Management stated that despite its remarkable history as one of the world’s largest e-commerce platforms, Company as a public-company investment has underperformed both its peers and the market for a prolonged period. Elliott Management stated that while Company’s core marketplace continues to enjoy sustained growth and the 2 other franchises that Company owns, StubHub and eBay Classifieds Group, are thriving, Company suffers from a deeply depressed valuation due to its history of misexecution. Elliott management expressed its view that Company is worth far more but change needed to address both public perceptions and real business issues. Further, Elliott Management stated that to create significant value, it urges Company’s Board to adopt a 5 step plan, which concludes that the Enhancing Company plan will not only maximize shareholder value, but also best position the platform that supports the entire Company community to enjoy long-term success.