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EBay beefs up U.S. war chest in pursuit of growth

30
Apr
2014

By Deepa Seetharaman SAN FRANCISCO (Reuters) – EBay Inc is preparing to bring a major portion of its foreign earnings back into the United States, hoping to bankroll acquisitions and drive an expansion into mobile payments and other high-growth areas as its core business matures. Ebay, which on Tuesday forecast lower-than-expected earnings this quarter, also plans to ramp up its marketing spending on PayPal, which is an Internet leader but faces stiff competition in the fledgling smartphone payments market. The move will allow eBay to boost its available U.S. cash by about $6 billion, when needed. If you look at our last 15 acquisitions, my guess is 10 have been inside the U.S., maybe 11, Chief Executive John Donahoe said in an interview.

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