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After a strategic review, eBay has announced plans to spin off PayPal as a separate business in 2015. The e-commerce giant's board of directors is touting the separation as a means of enhancing each brand's growth opportunities while boosting shareholder value.
"EBay and PayPal will be sharper and stronger, and more focused and competitive as leading, stand-alone companies in their respective markets," said eBay CEO John Donahoe. "As independent companies, eBay and PayPal will enjoy added flexibility to pursue new market and partnership opportunities."