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  • Aaron Hernandez Currently Not In General Population, Is Big On eBay

    Aaron Hernandez Currently Not In General Population, Is Big On eBay

    Perhaps neither one of the following should come as a surprise, but for some reason, the eBay thing does, at least for me.

    According to reports, Aaron “Watch How Fast Someone Can Fall” Hernandez, who is being held at the Bristol County Jail for the murder of Odin Lloyd while waiting for his trial to begin, has not been allowed to fraternize with the jail’s general population, thanks to his celebrity status. That, however, may be about to change:

    Bristol County Sheriff Thomas Hodgson says Hernandez will undergo another classification review Monday. If he passes, Hernandez will go into the general population of the jail.

    Apparently, the hearing will determine if Hernandez’ celebrity status is enough to keep him away from other inmates–ProFootballTalk reports the ex-Patriots tight end is only allowed out of his cell for an hour a day–or if his safety remains in doubt. Could it be that rival gangs members who share the same prison want a piece of the former NFL player with alleged gang ties? It would certainly be a way to make a name for oneself in the penal system.

    In other, more depressing news, Hernandez memorabilia is a big hit on eBay has sycophants flock to the auction service, all in an effort to join the trend, and the conversations surrounding it. Now, I understand that whole “innocent until proven guilty” concept, but it is hard to believe that is the reason folks are bidding on Hernandez’ gear. Take, for instance, the following auction for a Hernandez authentic jersey.

    The listing started at $14.99 and has since ballooned to $162.50, thanks to a minor bidding war that has been going on for 35 bids. It should be noted that the winning bidder will being paying more for the jersey than they would if they bought it from somewhere like ShopFanJerseys.com.

    Google still works folks.

    With that in mind, there is a saying about a fool and their money parting easily, and I get the feeling this kind of thing being referring to. If someone wants to go to the wall with their support for Hernandez, that is obviously their right, but throwing money away just to be part of a trend is pretty foolish, especially when there are cheaper options available.

    Lead image courtesy

  • eBay Ups Its Search Game With Cassini

    eBay Ups Its Search Game With Cassini

    eBay has a new search engine powering the results on its site, and from the sound of it, it’s a huge step up from the search experience of years past.

    It’s called Cassini, and we first heard about it a little over a year ago, when news came out that both eBay and shopping rival Walmart having new search engines in the works. At the time, it was reported that eBay had poached several engineers from Microsoft’s Bing search unit to oversee Cassini.

    At the end of this past May, eBay announced Cassini’s roll-out at the company’s Analyst Day. eBay news blog TameBay covered the announcement, reporting:

    The new Cassini Search engine will index not only title but also everything else in the listing including the full description. Cassini will go further than pure keyword matching however. It will learn what’s important to a particular buyer and offer different selection depending on your preferences. For instance a new buyer that’s never purchased before on eBay might want to dial up trust and buy from in-country sellers with great feedback. A collector might want to dial up diversity and find the rare products to complete their collection. Other buyers may make buying decisions based on value and relevance and know exactly what they want to purchase but want the best price.

    This week, eBay’s own company blog points to an in-depth Wired piece about Cassini. A site like eBay, as the article points out, has the challenge of keeping search results in tune with the constantly changing inventory, and the company think it’s getting it right, or at least a whole lot better than it used to. Here’s a snippet from Wired:

    Of eBay’s 400 million listings, about 20 percent of that inventory leaves the system every day and is replaced by a similar volume of new listings. Prices change. Listings are revised. New signals are emerging constantly.

    …

    Engineers at eBay work to funnel that churn to thousands of servers in as close to real time as possible, Williams says. The goal is to index changes within 90 seconds—a demanding enough problem when trying to tame the data parsed by eBay’s old search engine, Voyager. To give Cassini the capacity to accomplish the same task while indexing vastly more data, eBay has built a data center from scratch in Utah (the shovel from the groundbreaking is in Williams’ office).

    WIth the roll-out of Cassini, users shouldn’t notice a difference in the site’s experience, other than hopefully getting better search results to better help them find what they’re looking for.

  • eBay Redesigns The Seller Invoice

    eBay Redesigns The Seller Invoice

    eBay announced that sellers will get its new seller invoice this month.

    The new design, ebay says, lets sellers more clearly display their fees as well as discounts, credits and promotions received, so they can quickly how much is saved. Transaction fees are displayed chronologically, and can be set to display the item number.

    The new invoice also provides a quick comparison of monthly fees compared to sales, and lets the seller know when their fees will be applied to the payment method on file.

    eBay seller invoice

    Seller invoice

    Seller invoice

    Seller invoice

    Seller Inovice

    More details here.

  • eBay Experiments With ‘Shoppable Windows’ In New York

    eBay Experiments With ‘Shoppable Windows’ In New York

    eBay has been beta testing “shoppable windows” for physical retail stores for several months, and will officially launch the first ones in Manhattan this Saturday. While this is only a month-long experiment, it could turn into something much bigger for the company.

    Reuters first reported on the upcoming windows, indicating that the screens will sell 30 items from Kate Spade Saturday, a fashion brand launched earlier this year by Fifth & Pacific. Alistair Barr reports:

    The new screens measure about 9 feet across and 2 feet (0.6 meter) high and will appear on the front windows of closed stores. Shoppers will be able to touch the screens to order and have products delivered to them within an hour via courier. Payment will be accepted by the couriers through PayPal Here, a mobile payment service developed by eBay.

    The company later took to its blog to discuss the endeavor a bit further.

    “Each interactive storefront allows shoppers to select and order merchandise from Kate Spade Saturday, Kate Spade’s new weekender line, on a touchscreen, schedule a free one-hour delivery to anywhere in the city, and pay with PayPal Here upon delivery,” the company says. “Our partnership brings the best of online shopping into the physical world, and rolls mobile technology, same-day delivery, and seamless digital payments into one end-to-end customer experience.”

    “Though this is only a month-long experiment, both Kate Spade parent company Fifth & Pacific Inc. and eBay Inc. are excited about the prospect of revolutionizing shopping,” the company adds. “With about 40% of all retail spending in the U.S. now involving some kind of online engagement, interactive glass technology allows retailers to think about cubic versus square feet for their retail shops.”

    The Manhattan shoppable windows will be available to consumers until July 6th.

  • You Can Buy NYC Psychiatric Center’s Morgue Fridge on eBay, You Know, If That’s Your Thing

    You Can Buy NYC Psychiatric Center’s Morgue Fridge on eBay, You Know, If That’s Your Thing

    If you have a giant garage and do a lot of wild game hunting, or if you want to throw a really cool party – this eBay listing may be right up your alley.

    It appears that the Manhattan Psychiatric Center is looking to get rid of a giant refrigerator. It’s 6 feet wide x 8 feet deep x 6 feet tall – so there’s plenty of room for your meat and beer. They say that the refrigerator is used but in good condition and it currently runs just fine.

    Oh, I almost forgot to mention – it’s a morgue refrigerator

    (image)

    Now I’m not saying that this is so creepy that whoever chooses to purchase this has to be planning something rather sinister, but this thing is so so creepy that whoever chooses to purchase this has to be planning something rather sinister.

    But if you do have a use for such an item, please note that they won’t deliver it to you – you have to arrange your own pickup. And all sales are final.

    The current bid is $1.825 with 67 bids. if you’re looking for a new fridge that will likely be the cause of your death – be it entrapment, possession, or killer spirit – you have until June 6th at 6:00 am PDT to place a bid.

    [via Geekosystem]

  • Rand Paul Heads To Silicon Valley On Fundraising Trip

    Rand Paul Heads To Silicon Valley On Fundraising Trip

    Rand Paul already made it clear that he’s a friend of tech businesses when he defended Apple during a tax hearing last week. Now the Kentucky senator is heading to the heart of Silicon Valley to see if he can drum up some fundraising support.

    The Hill reports that Paul will be meeting with Google, Facebook and eBay this week. It’s officially designated as a fundraising trip, but he will probably take some time to talk legislation as well. It’s not known if he will actually be meeting with executives, but we’re sure to find out later this week.

    So, what kind of legislation could Paul be talking about with the likes of Google and Facebook? Well, Paul did just recently introduce the Fourth Amendment Preservation and Protection Act. The bill would require law enforcement to obtain a warrant when snooping through email and other online communications. Google has indicated in the past that it would support such a bill, so it’s not out of the realm of reason to suggest Paul will be talking to Google about his legislation.

    Of course, we can’t forget the tax issue either. Paul called out his fellow congressmen last week when they accused Apple of dodging corporates taxes. In the hearing, Apple CEO Tim Cook said that everything Apple does is legal under current law, and suggested Congress reform the tax code instead of pointing fingers.

    Google CEO Larry Page largely agrees, even if he was talking about the UK tax code. He said that Google will pay whatever the tax code dictates. He called upon government to change the tax code if it’s unhappy with the current system.

    In short, it seems that Paul and Google have quite a bit in common when it comes to certain issues. I’m sure he will be engaging some of the people at Google on these issues this week while he drums up support for his next move.

  • Pinterest Adds Relevant Info To Pins, Gives ‘Pin It’ Button To Mobile Apps

    Pinterest Adds Relevant Info To Pins, Gives ‘Pin It’ Button To Mobile Apps

    Pinterest has introduced what it refers to as “more useful pins”. Essentially, they’re adding relevant information to certain types of pins so people can take action on the pins that they like.

    For example, if you see some cookies that you are interested in trying to bake, you might be able to see the recipe. If someone posts an interesting movie-related pin, you might be able to see a review.

    The company has partnered with a bunch of sites, which will provide this information. There are three types of pins, which will take advantage.

    There are product pins for things like clothing and furniture, which include pricing, availability, and where to buy the item. This info is updated on a daily basis. The initial partners for this category include: Anthropologie, Asos, BHLDN, eBay, Etsy, Free People, Home Depot, Modcloth, Neiman Marcus, Nordstrom, Overstock, REI, Sephora, Shopify shops, Shop Terrain, Sony, Target, Urban Outfitters, Walmart, Wayfair, and Zulily.

    Next are recipe pins, which include cook times, ingredients and servings. Initial partners for these are: 101 Cookbooks, Better Homes and Gardens, Bon Appetit, Chobani, Country Living, Delish, Epicurious, Good Housekeeping, Leite’s Culinaria, Martha Stewart Living, MyRecipes, Naturally Ella, Nestlé Very Best Baking, Real Simple, Simply Recipes, Skinny Taste, The Girl Who Ate Everything, The Kitchn,What’s Gaby Cooking, Whole Foods Market and Woman’s Day.

    Finally, there are movie pins, which include content ratings, cast members, etc. Info comes from Flixster, Netflix and Rotten Tomatoes.

    The new pins are only available in the new Pinterest design.

    If you think your site has something to contribute in the way that all of these sites do, you can learn more about rich pins and making your own site’s Pinterest experience better here.

    In addition to the new types of pins, Pinterest has finally made the ‘Pin It’ button available to mobile apps. You can see it in action in apps from Behance, Brit+Co, Etsy, Fotopedia, Jetsetter, Modcloth, Snapguide, TED, The North Face and Zulily.

  • eBay Seller Sues Buyer Over Negative Feedback

    eBay Seller Sues Buyer Over Negative Feedback

    UPDATE: There are a few new wrinkles in the case.

    ORIGINAL ARTICLE: Let’s say you left a negative review on eBay. Maybe the seller wasn’t prompt in delivery, or maybe they weren’t completely honest about the product. Whatever. At what point would you feel like you needed to remove or edit that feedback? What if the buyer corrected their mistake – or made it up to you in some way. What then? Would you reconsider if the buyer sued you for damages?

    An eBay seller is suing a buyer after she left a negative review on the site and refused to rescind it – and the buyer isn’t backing down. The negative feedback was over an unexpected $1.44 postage charge.

    According to the complaint, Amy Nicholls purchased a microscope part from Med Express in February. As a result of that purchase, Nicholls incurred shipping costs ($12 on top of the $175 purchasing price).

    Med Express took her payment via PayPal, and shipped out the device. When it arrived to Nicholls, there was an extra $1.44 postage due.

    Who’s in the right? Is there any reason for a seller (or business) to sue over a negative review? Should a buyer ever be instructed to remove a review? Is it all about what can be proven libelous? Where do you draw the line? Let us know in the comments.

    Nicholls, operating under the eBay moniker chimera_studios, posted on February 26th that the “Order arrived with postage due with no communication from seller beforehand. It was logged as a negative feedback on eBay.

    Med Express quickly responded, saying that “Sorry – no idea there was postage due. This has happened alot (sp) from USPS lately.”

    Over the past year, Med Express has 298 ratings, only 2 of which are considered negative. Their positive feedback percentage stands at 99.3%.

    “When notified of the problem, Med Express immediately offered to reimburse Nicholls for the postage due amount. Despite this offer, and before giving Med Express a chance to reimburse her, Nicholls on February 26, 2013, apparently as a result of the $1.44 postage due, posted negative feedback and comments for the transaction on eBay’s website and gave Med Express low ratings in the Detailed Seller Ratings section of eBay’s Feedback Forum, resulting in an unfavorable feedback profile for Med Express. In so doing, Nicholls falsely and deliberately slandered the good name and reputation of Med Express.”

    Med Express goes on to say that Nicholls caused them irreparable harm and caused them to lose customers and income.

    They seek not only an injunction to remove the negative feedback, but also damages (both punitive and reparative).

    The facts of the case do not seem to be in dispute. And in a letter to Med Express, Paul Levy of the Public Citizen Litigation Group (on behalf of Nicholls) makes it clear that the feedback about them is true, and that Med Express admitted to that in communications with him. That, and the lawsuit itself is the definition of frivolous.

    “In a sense, what you and your client seem to be contending is that your client’s offer to pay the $1.40 is a sufficient display of contrition that Nicholls ought to be forgiving. But the point that she made in her message to you was that the problem wasn’t the money but the hassle. she indicated that she would have been willing to pay $1.40 more in shipping up front, but that she was posting feedback because a company that ships products ought to be able to do a better job.

    That opinion might be right, or it might be wrong, but harboring it and expressing it is not a tort. And it is certainly no reason to seek damages, attorney fees, and an injunction. Consumers might well take this sort of bullying into account when they are thinking about whether to do business with Med Express,” says Levy.

    “Moreover, the relief you are seeking would be injurious to consumers. Your other potential buys have an interest in knowing the history – that, for a period of time, you were repeatedly using a shipper knowing of problems that could result in user having to pay postage due.”

    Remember the response Med Express had for Nicholls? “This has happened alot (sp) from USPS lately?”

    Of course, Levy argues that’s not really the most important part. Summarily, Ohio law and the First Amendment prevents Med Express from suing over this type of negative review.

    eBay isn’t the only place online where reviews have been an issue for the courts. A few months ago, a judge ruled that a women must edit part of her review of a contractor on Yelp and Angie’s List, after she accused the company of stealing jewelry from her home. A later decision overturned that one, ruling that her postings were free speech until proven defamatory.

    There are a lot of far-reaching implications in cases like this, and the aforementioned eBay case. On one hand, courts can’t universally protect anything a reviewer ever says under the umbrella of free speech. That would open the doors to false reviews and flat-out lies directed at businesses in the attempt to smear. We know that this isn’t legal.

    On the other hand, it’s dangerous to set a precedent that says businesses can successfully win suits like this. At that point, it’s a slippery slope to open season on internet users and their legitimate complaints. Do we really want the courts clogged up with lawsuits over a one-sentence blip of text like “God, worst burgers ever”?

    What do you think? Where’s the line? Do you think that the eBay case we’ve discussed is pretty cut and dry? Can you foresee circumstances where this sort of thing gets more complicated, and the right decision becomes harder to discern? Let us know in the comments.

    [via Ars Technica]

  • eBay Seller Apologizes for Negative Feedback Suit, Called Out as Insincere

    eBay Seller Apologizes for Negative Feedback Suit, Called Out as Insincere

    We recently told you about a particularly odd lawsuit in which an eBay seller was suing a buyer for feedback left on their page. The seller, Med Express, was suing the buyer, Amy Nicholls, over her complaint on the eBay feedback page that her product had arrived with an extra $1.44 postage due.

    Med Express offered to correct the mistake, reimbursing Nicholls for the undue charges. But Nicholls had already posted the “negative” feedback on eBay. Med Express claimed that that feedback (which knocked their favorability rating down to 99.3%) caused them irreparable harm. They sued for an injunction to get the feedback removed and for damages from the resulting loss of business.

    Nicholls, with the help of Public Citizen’s Paul Levy, lawyered up and fought back – saying that her feedback was accurate and that expressing it is not a tort, and especially no reason to seek damages. To Levy, the lawsuit was the epitome of a frivolous mess. The case saw widespread coverage across tech sites. You can read our longer breakdown of the initial lawsuit here.

    Now, we have a couple of new wrinkles in the case. Med Express President Richard Radey took to Public Citizen’s site to issue an “apology” for the lawsuit in the comments.

    “I hope all of you will accept this as an open letter of apology from Med Express,” he said.

    He went on to explain that the lawsuit was never meant to be targeted at Nicholls, and that he had instructed his lawyer to seek $1 in damages.

    “Her feedback was also never an issue. We fully support her right and all of our customers right to leave any feedback they desire – true or otherwise!” he said.

    Apparently, the issue involved eBay’s “Detailed Seller Ratings.” He said the low rating caused Med Express to love their coveted “Top Rated Seller Plus” standings. He then linked this to a possible loss of tens of thousands of dollars in the future.

    Also, he claims to have not read the suit:

    The only way DSR’s are removed is by court order, and I was told that such court orders were not uncommon. I do deeply regret the wording of the lawsuit. I had not read it and only learned of the wording on the blogs. I too would have been outraged and for that I also sincerely apologize. It is the addendum attached ordering Ebay to remove the DSR’s that was our only goal.

    The only person to blame here is me. You have spoken and I have listened. A terrible wrong needs to be righted. I am instructing our attorneys to drop the lawsuit. I want to assure everyone that you may feel free to leave any feedback on our company without fear of reprisal. I have learned my lesson.

    Public Citizen’s Levy has now published a response, basically saying “I don’t believe you.”

    “When I criticize somebody on this blog, I generally send a courtesy notice with an invitation to respond omnt he blog. When the target of criticism owns up to a mistake, it is also my practice to be gracious. Ordinarily, then, a profuse apology like Radey’s would be cause for admiration. Problem is, I don’t believe a word of what he says…” Levy writes.

    Expect that he does believe Radey is sorry about the criticism Med Express has received through all the media coverage of the suit. But the rest, he says, is a smoke screen.

    In fact, he claims that the lawsuit against Nicholls is simply one of many, and it’s not even the most ridiculous. He points to a long list of past and pending claims against eBay and eBay buyers.

    “From my review of many of the cases, Med Express typically files a complaint based on extremely vague assertions of falsity, against defendants who may be too far from Medina too respond effectively, seeks a temporary restraining order without giving any notice, and hopes to get relief before the defendant knows what hit him, her or it,” says Levy.

    Levy also claims that Radey’s assertion that it’s the lawyer’s fault, and that he hadn’t seen the lawsuits before they were filed is nonsense. Levy says that Radey signed a verification for the suit and signed an affidavit complaining about the negative feedback.

    “Even if I were inclined to believe Radey’s assertion that all he really wanted was an injunction taking down the criticism, I would not be assuaged; in some ways, such injunctions, and the procedures for getting them, are even more of an affront to the public interest,” says Levy.

    “[T]he public at large is injured by these fixes, because consumers have an interest in learning what the criticism was, and what the response. Not all rating systems are perfect; maybe there are reasons to doubt the accuracy of the “DSRs.” But they are one data point that eBay consumers can use to decide where to buy goods online. We should not forgive Radey and Med Express even if it were true that distorting his own DSR’s was the only objective of this frivolous litigation.”

    Nicholls’ lawyers have filed a counterclaim, one that seeks sanctions and punitive damages from Radey and his attorneys. This will move forward, according to Levy.

  • eBay Earnings Up, Stock Down On Forecast

    eBay Earnings Up, Stock Down On Forecast

    eBay released its Q1 earnings on Wednesday, with revenue increasing 14% to $3.7 billion year over year. Profit was $677 million.

    What the company considered to be a strong quarter wasn’t enough to please investors, as the forecast wasn’t quite as positive.

    eBay stock is down -2.90‎ (-5.17%‎) in morning trading.

    Here’s the release in its entirety:

    SAN JOSE, Calif.–(BUSINESS WIRE)–Global commerce platform and payments leader eBay Inc. (Nasdaq: EBAY) today reported that revenue for the first quarter ended March 31, 2013, increased 14% to $3.7 billion, compared to the same period of 2012. The company reported first quarter net income on a GAAP basis of $677 million, or $0.51 per diluted share, and non-GAAP net income of $829 million, or $0.63 per diluted share. The year-over-year increase in first quarter GAAP and non-GAAP earnings per diluted share was driven primarily by strong top-line growth.

    “We had a strong first quarter, with accelerating user growth across both Marketplaces and PayPal, and with GSI enabling their retail clients to grow faster than ecommerce”

    Downloads of eBay Inc.’s suite of mobile apps expanded the company’s overall commerce footprint, surpassing 162 million since launch in the third quarter of 2008. eBay Inc. gained approximately 2.8 million new customers in the period through mobile, driving double-digit growth in active users at both PayPal and Marketplaces. Total company “enabled commerce volume” (ECV) grew 19% totaling $49 billion (ECV equals Marketplaces GMV, PayPal Merchant Services TPV, and GSI GeC Merchandise Sales not earned on eBay or paid for via PayPal or Bill Me Later).

    “We had a strong first quarter, with accelerating user growth across both Marketplaces and PayPal, and with GSI enabling their retail clients to grow faster than ecommerce,” said John Donahoe, eBay Inc. President and CEO. “Technology is creating a commerce revolution, and we are in the forefront with strong mobile leadership and a focus on helping retailers and brands engage consumers anytime, anywhere.”

    The company’s PayPal business delivered strong first quarter performance with revenue increasing 18% to $1.5 billion. PayPal gained 5 million active registered accounts in the period and ended the quarter with 128 million, a 16% increase. PayPal’s net total payment volume (TPV) grew 21% to $41 billion, driven by consumer and merchant use of PayPal both on and off eBay. PayPal continues to invest in growing its addressable market, product development, customer engagement and consumer awareness. The company’s mobile payment solution for small business, PayPal Here, became available for sale at more than 2,700 SoftBank locations across Japan and the iPad version of the product was launched in the U.S. PayPal also announced the chip and PIN version of PayPal Here in the U.K. which it plans to roll out this summer. PayPal’s offline initiatives are now live in almost 20,000 major retail locations in the U.S.

    The company’s Marketplaces business also delivered strong first quarter performance with revenue increasing 13% to $2.0 billion. Marketplaces gained 3.9 million active users in the period and ended the quarter with 116 million, a 13% increase. Gross merchandise volume (GMV), excluding vehicles, increased 13% to $18 billion, reflecting the continued improvements to eBay’s core technology designed to make it easier and faster for consumers to shop and buy. Sold items increased 12%. Fixed price GMV grew 17% globally and represented 68% of total GMV. U.S. GMV, excluding vehicles, increased 16% as mobile engagement and momentum in fashion and tickets were key drivers of growth. International GMV, excluding vehicles, increased 11% to $11 billion. Marketplaces continues to invest in innovation and expanding its addressable market both locally and globally.

    The company’s GSI Commerce business contributed $236 million in revenue for the first quarter. Its enterprise commerce platform generated $807 million in global ecommerce (GeC) Merchandise Sales, while its marketing services fee business produced $50 million of revenue. GSI enabled its clients to grow faster than the ecommerce market as measured by the 16% same stores sales growth, but revenue was pressured by a reduction in take rate. The company expects GSI’s integrated omnichannel product portfolio, including complementary eBay Inc. assets, to be increasingly adopted by merchants seeking opportunities to grow their businesses while seamlessly meeting the needs of their consumers.

    First Quarter 2013 Financial Highlights (presented in millions, except per share data and percentages)
    First Quarter
    2013 2012 Change
    eBay Inc.
    Net revenue $3,748 $3,277 $471 14 %
    Enabled commerce volume (ECV) $48,795 $41,152 $7,643 19 %
    GAAP
    Net income $677 $570 $107 19 %
    Earnings per diluted share $0.51 $0.44 $0.07 16 %
    Non-GAAP
    Net income $829 $725 $104 14 %
    Earnings per diluted share $0.63 $0.55 $0.08 14 %
    First Quarter
    2013 2012 Change
    Business Units
    Payments
    Net revenue $1,548 $1,309 $239 18 %
    Net total payment volume $41,040 $33,857 $7,183 21 %
    Merchant Services $28,087 $22,433 $5,654 25 %
    On eBay $12,953 $11,424 $1,529 13 %
    Marketplaces
    Net revenue $1,957 $1,728 $229 13 %
    Gross merchandise volume (GMV), excl. vehicles $18,326 $16,206 $2,120 13 %
    U.S. GMV $7,364 $6,366 $998 16 %
    International GMV $10,962 $9,840 $1,122 11 %
    GSI
    Net revenue $236 $237 $(1 ) — %
    GeC Merchandise Sales $807 $715 $92 13 %

    Other Selected Financial Results

    • Operating margin — GAAP operating margin increased to 21.3% for the first quarter of 2013, compared to 19.9% for the same period last year. Non-GAAP operating margin increased to 27.4% in the first quarter, compared to 26.9% for the same period last year.
    • Taxes — The GAAP effective tax rate for the first quarter of 2013 was 16%, compared to 17% for the first quarter of 2012. For the first quarter of 2013 and 2012, the non-GAAP effective tax rate was 20% for both periods.
    • Cash flow — The company generated $937 million of operating cash flow and $638 million of free cash flow during the first quarter of 2013.
    • Stock repurchase program — The company repurchased approximately $476 million of its common stock in the first quarter of 2013.
    • Cash and cash equivalents and non-equity investments — The company’s cash and cash equivalents and non-equity investments portfolio totaled $11.5 billion at both March 31, 2013 and December 31, 2012.

    Business Outlook

    • Second quarter 2013 — eBay expects net revenues in the range of $3,800 – $3,900 million with GAAP earnings per diluted share in the range of $0.46 – $0.48 and non-GAAP earnings per diluted share in the range of $0.61 – $0.63.
    • Full year 2013 — eBay expects net revenues in the range of $16,000- $16,500 million with GAAP earnings per diluted share in the range of $2.23 – $2.29 and non-GAAP earnings per diluted share in the range of $2.70 – $2.75.

    Quarterly Conference Call

    eBay will host a conference call to discuss first quarter 2013 results at 2:00 p.m. Pacific Time today. A live webcast of the conference call, together with a slide presentation that includes supplemental financial information and reconciliations of certain non-GAAP measures to their nearest comparable GAAP measures, can be accessed through the company’s Investor Relations website at http://investor.ebayinc.com. In addition, an archive of the webcast will be accessible for 90 days through the same link.

    About eBay Inc.

    Founded in 1995 in San Jose, Calif., eBay Inc. (NASDAQ:EBAY) is a global commerce platform and payments leader connecting millions of buyers and sellers. We do so through eBay, the world’s largest online marketplace, which allows users to buy and sell in nearly every country on earth; through PayPal, which enables individuals and businesses to securely, easily and quickly send and receive digital payments; and through GSI, which facilitates ecommerce, multichannel retailing and digital marketing for global enterprises. X.commerce harnesses the developer community of Magento, an ecommerce platform, by providing technology solutions and eBay Inc. capabilities to merchants of all sizes, supporting eBay Inc.’s mission of enabling commerce. We also reach millions through specialized marketplaces such as StubHub, the world’s largest ticket marketplace, and eBay classifieds sites, which together have a presence in more than 1,000 cities around the world. For more information about the company and its global portfolio of online brands, visit www.ebayinc.com.

    Presentation

    All growth rates represent year over year comparisons, except as otherwise noted. All amounts in tables are presented in U.S. dollars, rounded to the nearest millions, except as otherwise noted. As a result, certain amounts may not sum or recalculate using the rounded dollar amounts provided.

    Non-GAAP Financial Measures

    This press release includes the following financial measures defined as “non-GAAP financial measures” by the Securities and Exchange Commission (SEC): non-GAAP net income, non-GAAP earnings per diluted share, non-GAAP operating margin, non-GAAP effective tax rate and free cash flow. These measures may be different from non-GAAP financial measures used by other companies. The presentation of this financial information, which is not prepared under any comprehensive set of accounting rules or principles, is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with generally accepted accounting principles (GAAP). For a reconciliation of these non-GAAP financial measures to the nearest comparable GAAP measures, see “Business Outlook,” “Non-GAAP Measures of Financial Performance,” “Reconciliation of GAAP Operating Margin to Non-GAAP Operating Margin,” “Reconciliation of GAAP Net Income to Non-GAAP Net Income and Reconciliation of GAAP Effective Tax Rate to Non-GAAP Effective Tax Rate” and “Reconciliation of Operating Cash Flow to Free Cash Flow” included in this press release.

    Forward-Looking Statements

    This press release contains forward-looking statements relating to, among other things, the future performance of eBay and its consolidated subsidiaries that are based on the company’s current expectations, forecasts and assumptions and involve risks and uncertainties. These statements include, but are not limited to, statements regarding expected financial results for the second quarter and full year 2013, and the future growth in the Payments, Marketplaces and GSI businesses, mobile payments and mobile commerce. The company’s actual results could differ materially from those predicted or implied and reported results should not be considered as an indication of future performance. Factors that could cause or contribute to such differences include, but are not limited to: changes in political, business and economic conditions, including any European or general economic downturn or crisis and any conditions that affect ecommerce growth; fluctuations in foreign currency exchange rates; the company’s ability to profitably integrate, manage and grow businesses that have been acquired recently or may be acquired in the future; the company’s need to successfully react to the increasing importance of mobile payments and mobile commerce and the increasing social aspect of commerce; the company’s ability to deal with the increasingly competitive ecommerce environment, including competition for its sellers from other trading sites and other means of selling, and competition for its buyers from other merchants, online and offline; the company’s need to manage an increasingly large enterprise with a broad range of businesses of varying degrees of maturity and in many different geographies; the effect of management changes and business initiatives; the company’s need and ability to manage other regulatory, tax and litigation risks as its services are offered in more jurisdictions and applicable laws become more restrictive; any changes the company may make to its product offerings; the competitive, regulatory, credit card association-related and other risks specific to PayPal and Bill Me Later, especially as PayPal continues to expand geographically and introduce new products and as new laws and regulations related to financial services companies come into effect; the company’s ability to timely upgrade and develop its systems, infrastructure and customer service capabilities, including GSI’s v.11 initiative, at reasonable cost; and the company’s ability to maintain site stability and performance on all of its sites while adding new products and features in a timely fashion. The forward-looking statements in this release do not include the potential impact of any acquisitions or divestitures that may be announced and/or completed after the date hereof.

    More information about factors that could affect the company’s operating results is included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the company’s most recent annual report on Form 10-K and subsequent quarterly reports on Form 10-Q, copies of which may be obtained by visiting the company’s Investor Relations website at http://investor.ebayinc.com or the SEC’s website at www.sec.gov. Undue reliance should not be placed on the forward-looking statements in this release, which are based on information available to the company on the date hereof. eBay assumes no obligation to update such statements.

    eBay Inc.
    Unaudited Condensed Consolidated Balance Sheet
    March 31,
    2013    		 December 31,
    2012
    (In millions)
    ASSETS
    Current assets:
    Cash and cash equivalents $ 6,530 $ 6,817
    Short-term investments 2,872 2,591
    Accounts receivable, net 743 822
    Loans and interest receivable, net 2,150 2,160
    Funds receivable and customer accounts 8,897 8,094
    Other current assets 1,144 914
    Total current assets 22,336 21,398
    Long-term investments 3,172 3,044
    Property and equipment, net 2,575 2,491
    Goodwill 8,455 8,537
    Intangible assets, net 1,023 1,128
    Other assets 439 476
    Total assets $ 38,000 $ 37,074
    LIABILITIES AND STOCKHOLDERS’ EQUITY
    Current liabilities:
    Short-term debt $ 411 $ 413
    Accounts payable 308 301
    Funds payable and amounts due to customers 8,897 8,094
    Accrued expenses and other current liabilities 1,885 1,916
    Deferred revenue 149 137
    Income taxes payable 70 63
    Total current liabilities 11,720 10,924
    Deferred and other tax liabilities, net 832 972
    Long-term debt 4,105 4,106
    Other liabilities 231 207
    Total liabilities 16,888 16,209
    Total stockholders’ equity 21,112 20,865
    Total liabilities and stockholders’ equity $ 38,000 $ 37,074
    eBay Inc.
    Unaudited Condensed Consolidated Statement of Income
    Three Months Ended March 31,
    2013 2012
    (In millions, except per share amounts)
    Net revenues $ 3,748 $ 3,277
    Cost of net revenues (1) 1,152 983
    Gross profit 2,596 2,294
    Operating expenses:
    Sales and marketing (1) 697 677
    Product development (1) 434 374
    General and administrative (1) 408 372
    Provision for transaction and loan losses 175 134
    Amortization of acquired intangible assets 82 84
    Total operating expenses 1,796 1,641
    Income from operations 800 653
    Interest and other, net 9 31
    Income before income taxes 809 684
    Provision for income taxes (132 ) (114 )
    Net income $ 677 $ 570
    Net income per share:
    Basic $ 0.52 $ 0.44
    Diluted $ 0.51 $ 0.44
    Weighted average shares:
    Basic 1,295 1,288
    Diluted 1,319 1,308
    (1) Includes stock-based compensation as follows:
    Cost of net revenues $ 13 $ 14
    Sales and marketing 33 30
    Product development 32 30
    General and administrative 33 37
    $ 111 $ 111
    eBay Inc.
    Unaudited Condensed Consolidated Statement of Cash Flows
    Three Months Ended March 31,
    2013 2012
    (In millions)
    Cash flows from operating activities:
    Net income $ 677 $ 570
    Adjustments:
    Provision for transaction and loan losses 175 134
    Depreciation and amortization 329 281
    Stock-based compensation 111 111
    Changes in assets and liabilities, net of acquisition effects (355 ) (565 )
    Net cash provided by operating activities 937 531
    Cash flows from investing activities:
    Purchases of property and equipment (299 ) (242 )
    Changes in principal loans receivable, net (29 ) (35 )
    Purchases of investments (1,426 ) (1,016 )
    Maturities and sales of investments 1,048 408
    Acquisitions, net of cash acquired (8 ) (3 )
    Other (5 ) (5 )
    Net cash used in investing activities (719 ) (893 )
    Cash flows from financing activities:
    Proceeds from issuance of common stock 102 85
    Repurchases of common stock (476 ) (240 )
    Excess tax benefits from stock-based compensation 116 54
    Tax withholdings related to net share settlements of restricted stock units and awards (153 ) (118 )
    Funds receivable and customer accounts (803 ) (373 )
    Funds payable and amounts due to customers 803 373
    Net cash (used in) provided by financing activities (411 ) (219 )
    Effect of exchange rate changes on cash and cash equivalents (94 ) 54
    Net (decrease) increase in cash and cash equivalents (287 ) (527 )
    Cash and cash equivalents at beginning of period 6,817 4,691
    Cash and cash equivalents at end of period $ 6,530 $ 4,164
    eBay Inc.
    Unaudited Summary of Consolidated Net Revenues
    Net Revenues by Type
    Three Months Ended
    March 31, December 31, September 30, June 30, March 31,
    2013 2012 2012 2012 2012
    Net transaction revenues (In millions, except percentages)
    Marketplaces $ 1,608 $ 1,672 $ 1,490 $ 1,491 $ 1,425
    Current quarter vs prior quarter (4 )% 12 % — % 5 % (1 )%
    Current quarter vs prior year quarter 13 % 16 % 10 % 10 % 11 %
    Percent of Marketplaces revenue from international 55 % 56 % 55 % 57 % 55 %
    Payments 1,435 1,432 1,264 1,234 1,216
    Current quarter vs prior quarter — % 13 % 2 % 1 % 5 %
    Current quarter vs prior year quarter 18 % 24 % 22 % 25 % 29 %
    Percent of Payments revenue from international 55 % 56 % 55 % 55 % 54 %
    GSI 186 333 170 164 182
    Current quarter vs prior quarter (44 )% 97 % 3 % (10 )% (38 )%
    Current quarter vs prior year quarter 2 % 13 % 14 % N/A N/A
    Percent of GSI revenue from international 5 % 3 % 3 % 4 % 4 %
    Total net transaction revenues 3,229 3,437 2,925 2,889 2,823
    Current quarter vs prior quarter (6 )% 17 % 1 % 2 % (2 )%
    Current quarter vs prior year quarter 14 % 19 % 15 % 23 % 27 %
    Marketing services and other revenues
    Marketplaces 349 378 316 323 303
    Current quarter vs prior quarter (8 )% 20 % (2 )% 7 % (8 )%
    Current quarter vs prior year quarter 15 % 15 % 5 % 3 % 13 %
    Percent of Marketplaces revenue from international 75 % 72 % 75 % 74 % 75 %
    Payments 113 109 102 123 93
    Current quarter vs prior quarter 4 % 7 % (17 )% 32 % 12 %
    Current quarter vs prior year quarter 22 % 32 % 37 % 50 % 87 %
    Percent of Payments revenue from international 4 % 5 % 6 % 4 % 8 %
    GSI 50 65 57 57 55
    Current quarter vs prior quarter (23 )% 14 % — % 3 % (19 )%
    Current quarter vs prior year quarter (9 )% (6 )% 4 % N/A N/A
    Percent of GSI revenue from international — % — % — % — % — %
    Corporate and other 12 12 11 10 6
    Total marketing services and other revenues 524 564 485 513 457
    Current quarter vs prior quarter (7 )% 16 % (5 )% 12 % (6 )%
    Current quarter vs prior year quarter 15 % 16 % 13 % 27 % 43 %
    Elimination of inter-segment net revenue and other (1) (5 ) (9 ) (6 ) $ (4 ) $ (3 )
    Total net revenues $ 3,748 $ 3,992 $ 3,404 $ 3,398 $ 3,277
    Current quarter vs prior quarter (6 )% 17 % — % 4 % (3 )%
    Current quarter vs prior year quarter 14 % 18 % 15 % 23 % 29 %
    (1) Represents revenue generated between our reportable segments.
    Net Revenues by Geography (1) Three Months Ended
    March 31, December 31, September 30, June 30, March 31,
    2013 2012 2012 2012 2012
    (In millions, except percentages)
    U.S. net revenues $ 1,789 $ 1,949 $ 1,637 $ 1,611 $ 1,581
    Current quarter vs prior quarter (8 )% 19 % 2 % 2 % (5 )%
    Current quarter vs prior year quarter 13 % 17 % 15 % 29 % 39 %
    Percent of total 48 % 49 % 48 % 47 % 48 %
    International net revenues 1,959 2,043 1,767 1,787 1,696
    Current quarter vs prior quarter (4 )% 16 % (1 )% 5 % (1 )%
    Current quarter vs prior year quarter 16 % 19 % 15 % 18 % 21 %
    Percent of total 52 % 51 % 52 % 53 % 52 %
    Total net revenues $ 3,748 $ 3,992 $ 3,404 $ 3,398 $ 3,277
    Current quarter vs prior quarter (6 )% 17 % — % 4 % (3 )%
    Current quarter vs prior year quarter 14 % 18 % 15 % 23 % 29 %
    (1) Revenues are attributed to U.S. and international geographies primarily based upon the country in which the seller, payment recipient, customer, website that displays advertising, or other service provider, as the case may be, is located.
    eBay Inc.
    Unaudited Payments Supplemental Operating Data
    Three Months Ended
    March 31, December 31, September 30, June 30, March 31,
    2013 2012 2012 2012 2012
    (In millions, except percentages)
    Active registered accounts (1) 127.7 122.7 117.4 113.2 109.8
    Current quarter vs prior quarter 4 % 5 % 4 % 3 % 3 %
    Current quarter vs prior year quarter 16 % 15 % 14 % 13 % 12 %
    Net number of payments (2) 681.6 691.7 589.2 564.8 555.7
    Current quarter vs prior quarter (1 )% 17 % 4 % 2 % 1 %
    Current quarter vs prior year quarter 23 % 26 % 28 % 31 % 31 %
    Net total payment volume (3) $41,040 $41,471 $35,159 $34,451 $33,857
    Current quarter vs prior quarter (1 )% 18 % 2 % 2 % 1 %
    Current quarter vs prior year quarter 21 % 24 % 20 % 20 % 24 %
    Merchant Services net total payment volume as % of net total payment volume 68 % 68 % 67 % 67 % 66 %
    Transaction rates
    Take rate 3.77 % 3.72 % 3.89 % 3.94 % 3.87 %
    Transaction expense 1.05 % 1.03 % 1.07 % 1.07 % 1.07 %
    Loss rate 0.29 % 0.28 % 0.30 % 0.26 % 0.26 %
    Transaction margin (4) 64.4 % 64.7 % 64.8 % 66.3 % 65.6 %
    Loan portfolio rates
    Risk adjusted margin (5) 15.8 % 15.6 % 16.5 % 15.5 % 16.8 %
    Net charge-off rate (6) 5.3 % 5.3 % 4.9 % 4.6 % 4.5 %
    90-day delinquency rate (7) 2.7 % 2.7 % 2.9 % 2.5 % 2.4 %
    (1) All registered accounts that successfully sent or received at least one payment or payment reversal through the PayPal system or Bill Me Later accounts that are currently able to transact and that received a statement within the last 12 months.
    (2) Number of payments, net of payment reversals, successfully completed through our Payments networks, Bill Me Later accounts and Zong during the quarter, excluding PayPal’s payments gateway business.
    (3) Total dollar volume of payments, net of payment reversals, successfully completed through our Payments networks, Bill Me Later accounts and Zong during the quarter, excluding PayPal’s payment gateway business.
    (4) Transaction margin calculation has been adjusted to include total revenues (including revenue from credit) less transaction expense (including credit cost of funds) less transaction loss (including credit loan losses), divided by global take rate (based on global total revenues divided by total TPV).
    (5) The risk adjusted margin represents the annualized ratio of Bill Me Later revenue, excluding contra-revenue incentives to customers or merchants, less cost of funds, and less net credit and fraud losses relative to average loans receivable for the quarter.
    (6) Net charge-off rate represents the annualized ratio of Bill Me Later net credit losses relative to average loans receivable for the quarter.
    (7) 90-day delinquency rate is the ratio of Bill Me Later end of period account balances that have missed three or more consecutive payments relative to total ending loan receivables.
    eBay Inc.
    Unaudited Marketplaces Supplemental Operating Data
    Three Months Ended
    March 31, December 31, September 30, June 30, March 31,
    2013 2012 2012 2012 2012
    (In millions, except percentages)
    Active Users (1) 116.2 112.3 108.3 104.8 102.4
    Current quarter vs prior quarter 3 % 4 % 3 % 2 % 2 %
    Current quarter vs prior year quarter 13 % 12 % 10 % 8 % 7 %
    Gross Merchandise Volume (excluding vehicles) (2) $18,326 $19,105 $16,281 $16,171 $16,206
    Current quarter vs prior quarter (4 )% 17 % 1 % — % (2 )%
    Current quarter vs prior year quarter 13 % 16 % 11 % 10 % 12 %
    Vehicles Gross Merchandise Volume (3) $1,686 $1,727 $1,994 $2,021 $1,871
    Current quarter vs prior quarter (2 )% (13 )% (1 )% 8 % — %
    Current quarter vs prior year quarter (10 )% (7 )% (7 )% (10 )% (9 )%
    Fixed Price Trading (4) as % of total gross merchandise volume 68 % 68 % 66 % 65 % 64 %
    eBay’s classifieds websites, brands4friends and Shopping.com are not included in these metrics.
    (1) All users, excluding users of Half.com, StubHub, and our Korean subsidiary, who bid on, bought, listed or sold an item within the previous 12-month period. Users may register more than once, and as a result, may have more than one account.
    (2) Total value of all successfully closed items between users on Marketplaces trading platforms during the quarter, regardless of whether the buyer and seller actually consummated the transaction, excluding vehicles gross merchandise volume.
    (3) Total value of all successfully closed vehicle transactions between users on Marketplaces trading platforms during the quarter, regardless of whether the buyer and seller actually consummated the transaction.
    (4) Primarily, total gross merchandise volume related to eBay’s “Buy It Now” feature on Marketplaces trading platforms relative to total gross merchandise volume during the quarter.
    eBay Inc.
    Unaudited GSI Supplemental Operating Data
    Three Months Ended
    March 31, December 31, September 30, June 30, March 31,
    2013 2012 2012 2012 2012
    (In millions, except percentages)
    GeC Merchandise Sales (1) $807 $1,595 $698 $674 $715
    Current quarter vs prior quarter (49 %) 129 % 4 % (6 %) (48 %)
    Current quarter vs prior year quarter 13 % 17 % 16 % N/A N/A
    (1) Represents the retail value of all sales transactions, inclusive of freight charges and net of allowance for returns and discounts, which flow through the GSI ecommerce services platform, whether we record the full amount of such transaction as a product sale or a percentage of such transaction as a service fee.
    eBay Inc.
    Unaudited eBay Inc. Supplemental Operating Data
    Three Months Ended
    March 31, December 31, September 30, June 30, March 31,
    2013 2012 2012 2012 2012
    (In millions, except percentages)
    ECV $48,795 $50,186 $42,593 $41,906 $41,152
    Current quarter vs prior quarter (3 %) 18 % 2 % 2 % N/A
    Current quarter vs prior year quarter 19 % N/A N/A N/A N/A
    (1) Represents the total commerce and payment volume across all three business units consisting of Marketplaces GMV, PayPal Merchant Services TPV and GSI GeC Merchandise Sales. PayPal Merchant Services TPV is the total dollar volume of payments, net of payment reversals, successfully completed through our Payments networks, Bill Me Later accounts and Zong during the period, excluding PayPal’s payment gateway business and payments for transactions on our Marketplaces and GSI platforms.

    eBay Inc.
    Business Outlook
    (In Millions, Except Per Share Amounts)

    The guidance figures provided below and elsewhere in this press release are forward-looking statements, reflect a number of estimates, assumptions and other uncertainties, and are approximate in nature because eBay’s future performance is difficult to predict. Such guidance is based on information available on the date of this press release, and eBay assumes no obligation to update it.

    eBay’s future performance involves risks and uncertainties, and the company’s actual results could differ materially from the information below and elsewhere in this press release. Some of the factors that could affect the company’s operating results are set forth under the caption “Forward-Looking Statements” above in this press release. More information about factors that could affect eBay’s operating results is included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in its most recent annual report on Form 10-K and subsequent quarterly reports on Form 10-Q, copies of which may be obtained by visiting the company’s investor relations website at http://investor.ebayinc.com or the SEC’s website at www.sec.gov.

    Three Months Ending
    June 30, 2013
    (In millions, except per share amounts) GAAP Non-GAAP (a)
    Net Revenue $3,800 – $3,900 $3,800 – $3,900
    Diluted EPS $0.46 – $0.48 $0.61 – $0.63
    Twelve Months Ending
    December 31, 2013
    (In millions, except per share amounts) GAAP Non-GAAP (b)
    Net Revenue $16,000- $16,500 $16,000- $16,500
    Diluted EPS $2.23 – $2.29 $2.70 – $2.75
    (a) Estimated non-GAAP amounts above for the three months ending June 30, 2013, reflect adjustments that exclude the estimated amortization of acquired intangible assets of approximately $95-$105 million, estimated stock-based compensation expense and employer payroll taxes on stock-based compensation expense of approximately $145-$155 million, and the accretion of a note receivable of approximately $5 million as well as the related tax impact.
    (b) Estimated non-GAAP amounts above for the 12 months ending December 31, 2013, reflect adjustments that exclude the estimated amortization of acquired intangible assets of approximately $380-$400 million, estimated stock-based compensation expense and employer payroll taxes on stock-based compensation expense of approximately $560-$600 million, and the accretion of a note receivable of approximately $20 million as well as the related tax impact.

    eBay Inc.
    Non-GAAP Measures of Financial Performance

    To supplement the company’s condensed consolidated financial statements presented in accordance with generally accepted accounting principles, or GAAP, eBay uses non-GAAP measures of certain components of financial performance. These non-GAAP measures include non-GAAP net income, non-GAAP earnings per diluted share, non-GAAP operating margin, non-GAAP effective tax rate, and free cash flow.

    These non-GAAP measures are not in accordance with, or an alternative to, measures prepared in accordance with GAAP and may be different from non-GAAP measures used by other companies. In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles. Non-GAAP measures have limitations in that they do not reflect all of the amounts associated with eBay’s results of operations as determined in accordance with GAAP. These measures should only be used to evaluate eBay’s results of operations in conjunction with the corresponding GAAP measures.

    Reconciliation to the nearest GAAP measure of all non-GAAP measures included in this press release can be found in the tables included in this press release.

    These non-GAAP measures are provided to enhance investors’ overall understanding of the company’s current financial performance and the company’s prospects for the future. Specifically, the company believes the non-GAAP measures provide useful information to both management and investors by excluding certain expenses, gains and losses or net purchases of property and equipment, as the case may be, that may not be indicative of its core operating results and business outlook. In addition, because eBay has historically reported certain non-GAAP results to investors, the company believes that the inclusion of non-GAAP measures provides consistency in the company’s financial reporting.

    For its internal budgeting process, and as discussed further below, eBay’s management uses financial measures that do not include stock-based compensation expense, employer payroll taxes on stock-based compensation, amortization or impairment of acquired intangible assets, impairment of goodwill, significant gains or losses from the disposal/acquisition of a business, restructuring-related charges and the income taxes associated with the foregoing. In addition to the corresponding GAAP measures, eBay’s management also uses the foregoing non-GAAP measures in reviewing the financial results of eBay.

    eBay excludes the following items from non-GAAP net income, non-GAAP earnings per diluted share, non-GAAP operating margin and non-GAAP effective tax rate:

    Stock-based compensation expense and related employer payroll taxes. This expense consists of expenses for stock options, restricted stock and employee stock purchases. eBay excludes stock-based compensation expense from its non-GAAP measures primarily because they are non-cash expenses that management does not believe are reflective of ongoing operating results. eBay also previously excluded its proportionate share of Skype’s stock-based compensation expense. The related employer payroll taxes is dependent on eBay’s stock price and the timing and size of exercises by employees of their stock options and the vesting of their restricted stock, over which management has limited to no control, and as such management does not believe it correlates to eBay’s operation of the business.

    Amortization or impairment of acquired intangible assets, impairment of goodwill and significant gains or losses and transaction expenses from the acquisition or disposal of a business. eBay incurs amortization or impairment of acquired intangible assets and goodwill in connection with acquisitions and may incur significant gains or losses from the acquisition or disposal of a business and therefore excludes these amounts from its non-GAAP measures. eBay also previously excluded its proportionate share of Skype’s amortization of acquired intangibles expense. eBay also settled a legal exposure in conjunction with the acquisition of a business and excludes this settlement payment. In addition, eBay’s results are also impacted by hedge transactions related to unique movements of cash from significant business acquisitions or dispositions. eBay excludes the impact of the accretion of a note receivable associated with the disposal of certain businesses. eBay excludes these items because management does not believe they correlate to the ongoing operating results of eBay’s business.

    Restructuring. These charges consist of expenses for employee severance and other exit and disposal costs. eBay excludes significant restructuring charges primarily because management does not believe they are reflective of ongoing operating results.

    Tax effect of non-GAAP adjustments. This amount is used to present stock-based compensation and the other amounts described above on an after-tax basis consistent with the presentation of non-GAAP net income.

    In addition to the non-GAAP measures discussed above, eBay also uses free cash flow. Free cash flow represents operating cash flows less purchases of property and equipment. eBay considers free cash flow to be a liquidity measure that provides useful information to management and investors about the amount of cash generated by the business after the purchases of property, buildings, and equipment, which can then be used to, among other things, invest in eBay’s business, make strategic acquisitions, and repurchase stock. A limitation of the utility of free cash flow as a measure of financial performance is that it does not represent the total increase or decrease in the company’s cash balance for the period.

    eBay Inc.
    Reconciliation of GAAP Operating Margin to Non-GAAP Operating Margin
    Three Months Ended
    March 31, March 31,
    2013 2012
    (In millions, except percentages)
    GAAP operating income $ 800 $ 653
    Stock-based compensation expense and related employer payroll taxes 129 125
    Amortization of acquired intangible assets within cost of net revenues 18 21
    Amortization of acquired intangible assets within operating expenses 82 84
    Restructuring (4 ) —
    Total non-GAAP operating income adjustments 225 230
    Non-GAAP operating income $ 1,025 $ 883
    Non-GAAP operating margin 27.4 % 26.9 %
    Reconciliation of GAAP Net Income to Non-GAAP Net Income and
    GAAP Effective Tax Rate to Non-GAAP Effective Tax Rate
    Three Months Ended
    March 31, March 31,
    2013 2012
    (In millions, except per share amounts)
    GAAP income before income taxes $ 809 $ 684
    GAAP provision for income taxes (132 ) (114 )
    GAAP net income $ 677 $ 570
    Non-GAAP adjustments to net income:
    Non-GAAP operating income adjustments (see table above) 225 230
    Accretion of note receivable (5 ) (9 )
    Amortization of intangibles of investments 2 —
    (Gain) Loss on divested business — 3
    Tax effect of non-GAAP adjustments (70 ) (69 )
    Non-GAAP net income $ 829 $ 725
    Diluted net income per share:
    GAAP $ 0.51 $ 0.44
    Non-GAAP $ 0.63 $ 0.55
    Shares used in GAAP and non-GAAP diluted net income per-share calculation 1,319 1,308
    GAAP effective tax rate 16 % 17 %
    Tax effect of non-GAAP adjustments to net income 4 % 3 %
    Non-GAAP effective tax rate 20 % 20 %
    )
    Reconciliation of Operating Cash Flow to Free Cash Flow
    Three Months Ended
    March 31, March 31,
    2013 2012
    (In millions)
    Net cash provided by operating activities $ 937 $ 531
    Less: Purchases of property and equipment (299 (242 )
    Free cash flow $ 638 $ 289

  • Shopping.com To Become eBay Commerce Network

    Shopping.com To Become eBay Commerce Network

    It’s hard to believe, but it’s been nearly 8 years since eBay acquired Shopping.com. After all that time, eBay has decided to rebrand the property as the eBay Commerce Network in a move the company says will “better reflect its evolution from a single-destination” site to a “robust commerce network”.

    The company said in an announcement:

    Consumers’ shopping habits have drastically changed since 1997, when Shopping.com first launched. Originally, buyers had fewer online options to research and ultimately buy their products. Today, consumers can access many more options, with the average shopper visiting 10.4 websites during their purchasing process.

    To keep pace with the changing nature of buying and shopping, the eBay Commerce Network has evolved into an active commerce ad network capable of connecting retailers with buyers at any stage of the shopping experience – from awareness to purchase.

    Kristy Troup, GM of the U.S. Business at the newly branded eBay Commerce Network, says, “We are committed to enhancing and scaling our network so that we can deliver new customers and drive meaningful sales by offering our merchants the broadest reach across the web at the right ROI. As an eBay company, we are focused on connecting buyers and sellers through relevant digital advertising.”

    There are already 4,000 merchants working with the eBay Commerce Network. Merchants who partner with the network get placements on eBay, Bing and CNET, according to the announcement.

    So far, the shopping.com homepage doesn’t have much in the way of new branding.

  • eBay Expects To Grow Revenue By 50 Percent In 2015

    eBay Expects To Grow Revenue By 50 Percent In 2015

    Earlier this year, eBay posted revenue growth of 21 percent year-over-year. Over the next three years, it hopes to increase revenue even more.

    In a meeting with investors, eBay announced that it plans to continue growing through 2015 thanks to a “commerce revolution.” This revolution will be spearheaded by the transition to mobile as more and more people take to the Web to buy and sell.

    “Led by mobile, a commerce revolution is under way,” said eBay Inc. President and CEO John Donahoe. “Technology is creating a new web-enabled retail interface, a new seamless, multiscreen commerce experience that connects consumers anytime, anywhere. This will expand shopping beyond conventional store environments and e-commerce sites. How we shop is being transformed, and eBay Inc. intends to be a leader in this new commerce world.”

    This outlook is not only good for investors, but for the millions of people who sell on eBay. In fact, the company thinks it will enable $300 billion of global commerce in 2015, compared to $175 billion in 2012. It also hopes to grow its revenue from by over 50 percent to $21.5 billion in 2015.

    So, how is eBay going to do this? The company has a three pronged approach:

  • An expanded addressable market. eBay Inc. is no longer just an e-commerce company, but a global commerce leader, Donahoe said. That means the company now has growth opportunities across the estimated $10 trillion commerce market.
  • Mobile commerce leadership and innovation. eBay Inc.’s mobile innovation capabilities across all operating systems and devices are a competitive advantage, Donahoe said. In 2013, the company expects to generate $20 billion of mobile commerce and payments volume.
  • A strong portfolio of technology assets and capabilities. The company’s core businesses and assets well position eBay to capitalize and win in the new commerce environment.

    • As for other eBay properties, the company expects its Marketplaces business to reach revenues of $11.5 billion in 2015, or a 14 percent compound annual growth rate. PayPal is also expected to reach revenue growth of $10.5 billion, or a 22 percent compound annual growth rate.

  • Jim Carrey: eBay Autographs Are Fake (At Least ‘A Lot’ Of Them)

    Jim Carrey: eBay Autographs Are Fake (At Least ‘A Lot’ Of Them)

    eBay member astrobuzz listed a Jim Carrey autographed 8×10 photo for sale, saying, “So I can afford a gun!” in the listing’s heading. This was in response to the recent Funny or Die viral hit “Cold Dead Hand,” in which Jim Carrey starred as Charlton Heston.

    Cold Dead Hand with Jim Carrey from Jim Carrey

    eBay has not commented on the story, but it appears astrobuzz was forced to change the listing to comply with eBay’s terms. As The Hollywood Reporter reports:

    As of late Wednesday, the description for the Carrey photo being sold by astrobuzz read: “I’m selling this Jim Carrey autographed B&W photo (mint condition) for purposes I cannot explain because it might be against eBay’s Terms & Conditions.”

    The listing appears to have changed again. The description currently says:

    I’m trying to sell this 8X10 Autograph reprint photo of Jim Carrey for personal reasons. >;)Happy Bidding!P.S. I have followed all the ebay policy conditions this time and the auction should make it to the end.

    It has no mention of guns.

    Other sellers have started to imitate the listing. Here’s one from member paradisecarwash:

    (image)

    The listing’s description is as follows:

    I am selling this Jim Carrey photo

    Jim carrey Is a despicable hypocrite and I will no longer support him

    I am also willing to donate some of the proceeds

    Meanwhile, Jim Carrey has been quite active on Twitter:

  • Bonanza Just Registered Its Millionth User

    Bonanza Just Registered Its Millionth User

    Online marketplace Bonanza announced today that it celebrated its one millionth registered user this week. To celebrate, sellers organized a give-away contest to promote their stores, with over a hudred sellers offering gifts for the one millionth member.

    The company, formerly Bonanzle, says it has seen steady growth in membership, traffic and revenue since launching in 2008. It attributes this mainly to its fee structure.

    “We’re happy to let Amazon and eBay argue over whose pricing scheme is ‘best for sellers,’” said CEO Bill Harding. “Meanwhile, our fees average 70% lower than theirs. We aim to make selling online simple enough for my grandma to do it, and yes,
    that ‘one million’ number includes Grandma Harding.”

    eBay announced last week that it is launching free listings for all sellers.

    In 2010, Bonanzle acquired artisan merchandise site 1000 Markets and changed its name to Bonanza. The combined company would take aim more at Etsy than eBay, specializing in “unique and non-mass-produced items”.

    Etsy had 1,025,124 new members join in February alone. The site saw 1.49 billion page views during the month.

  • eBay To Launch Free Listings For ‘All’ Sellers

    eBay To Launch Free Listings For ‘All’ Sellers

    eBay announced that it is launching free listings for all sellers (well, almost all sellers) this spring, along with some new fee structures. Here’s a look:

    eBay fee structure

    “As an eBay seller, you’re in prime position to reach the growing millions of global buyers coming now to the world’s largest marketplace—looking for just what you’re selling,” says Michael Jones, Vice President, Merchant Development at eBay. “Updates coming this spring can help you cash in, starting with new everyday fee plans that virtually eliminate the basic upfront cost of selling for all sellers.”

    Sellers will no longer have to pay insertion fees for their allotted free listings per calendar month. Optional fees, including advanced listing upgrades and supplemental service fees will still apply. Some big ticket stuff like cars, real estate, heavy equipment, concession trailers and carts, imaging and aesthetics equipment and commercial printing presses are excluded.

    Starting on May 1, sellers get up to 2,500 free listings per month with an eBay Stores subscription, and starting April 16, 50 free listings per month can be listed auction-style or fixed price, with one flat 10% value fee when items are sold.

    This is all part of the first of two sell updates for 2013.

    eBay’s move comes on the heels of a Reuters report indicating Amazon sellers are looking for alternatives as the company has implemented fee hikes over the past year. eBay has even gone so far as to post a comparison chart between the two companies’ offerings (via TechCrunch):

    eBay vs Amazon

    Along withe new fee structure, eBay is offering new seller protections by reducing the impact of unpaid items and removing buyer feedback when the case is found in the seller’s favor.

    Other updates from eBay include: sellers will be automatically opted into a new way to define shipping, return and payment policies; listing pictures will be optimized for mobile; sellers will be able to specify same business day handling to highlight to buyers; and categories are getting updated.

    An overview of eBay’s spring seller update can be found here.

  • eBay Rolls Out New Personalized Feed to All U.S. Users

    eBay Rolls Out New Personalized Feed to All U.S. Users

    Last October, eBay launched their new “eBay Feed” to a small number of U.S. users. Today, eBay says that they are finally rolling it out widely to all U.S. users.

    “We’re delivering a cleaner, contemporary look and feel; a more intuitive, convenient way to browse, decide and buy – both globally and locally; and a new personal way to curate your own shopping experience and discover items perfect for you,” said eBay President Devin Wenig.

    The new eBay Feed is a Pinterest-like design that features personalized and self-curated products. It’s a “collection of items selected for you, based on your shopping history or your own personal interests,” says eBay.

    The new eBay lets users “follow” certain types of products like “movie posters,” “speakers,” “clothing,” etc. Users can also import their Facebook interests to the new feed.

    Clicking on any product pops it up in a lightbox. From there, users can see basic product information like price, similar items, additional photos, and more.

    “eBay will simplify its site design to offer more streamlined navigation along with larger images and key product information, enabling customers to find what they want more quickly and easily. And, because today’s consumers want a more personalized shopping experience, we’ll provide a curated collection of items tailored to our customers’ unique interests right on the eBay homepage,” says the company.

  • The Shoe Project: Star Wars Fans And Vans Come Together For Good Cause

    The Shoe Project: Star Wars Fans And Vans Come Together For Good Cause

    When art and fandom meet, it’s often a beautiful thing to behold; when they meet under the same roof to raise money for sick children, it’s a thousand times sweeter.

    While artists have been paying tribute to their favorite films, books, and television shows for years, perhaps no one thing has gotten more love than the “Star Wars” series. Whether it’s to show love for the original trilogy, the newer films, or a combination of both, fans are loyal to a fault and will often go to extreme lengths to create detailed artwork and costumes to celebrate them. That makes them perfect candidates to raise money for a good cause, and one group is hoping to make their project for 2013 a success.

    Members of the MidSouth Garrison of the 501st Legion have had so much interest in their past fundraising projects–such as the TK Helmet Project and the As You Wish Helmet Project, which raised money for the Make A Wish Foundation–that they decided to try it again this year, but with a twist. Instead of helmets, they’ve attracted artists from all over the country to create one-of-a-kind Vans shoes to be auctioned off. Every bit of the money raised will go to the University of Kentucky Children’s Hospital.

    Tyler Phillips of the 501st spoke to WebProNews about the idea, noting that once news of an artist call for the fundraiser got around, the group got responses to The Shoe Project from all over the world. Unfortunately, due to time constraints, they weren’t able to accommodate everyone.

    “My wife and I researched custom shoes online, and it appeared as though Vans were the most popular because of the large open area they featured on the shoe. Once we pitched the idea to Lucasfilm and got their approval they helped us pitch the idea to Vans and get them involved,” he said.

    Vans graciously donated ten pairs of their shoes for the fundraiser, which will be displayed at the Lexington Comic and Toy Convention in Kentucky on March 16th and 17th. After that, they’ll be posted on eBay for auction, with 100% of the proceeds going to the UK Children’s Hospital. Phillips says that, depending on the interest this year, they’d love to do the project again in 2014.

    For now, the group is waiting on approval from Lucasfilm before they can officially announce the artists, but we’ll keep you updated on the project with a sneak peek at the shoes as soon as they’re ready. For more information, check out the project’s Facebook page. Also not to be missed: The Western Kentucky Ghostbusters. These guys (and lovely ladies) are full of heart and devote countless hours to fundraising for the UK Children’s Hospital, as well.

    TK Helmet Project: “Lost”
    Artist: Amy Vatanakul

    (image)

    TK Helmet Project: Viking Helmet
    Artist: Tory, of “Mythbusters”

    (image)

    TK Helmet Project: “Pharaoh”
    Artist: William O’Neill

    (image)

    Lead image: Jilliann Silva

  • Unbelievable Video Game Collection Hits eBay, Starting Bid $550,000

    Unbelievable Video Game Collection Hits eBay, Starting Bid $550,000

    As of right now, you have just under 10 days to place your bid on one of the most fascinating collections of video games, consoles, and accessories that has ever been offered on the internet.

    One eBay user has put up their entire life’s work, over 30 years of collecting, for sale. And the bidding starts at $550,000.

    Yes, that’s over a half a million for some video games and some consoles. But that description doesn’t quite do it justice. Included in the set – over 6850 games, over 330 consoles, over 220 controllers, and 185 accessories.

    “After a life spent collecting video games I decide to sell off my entire collection. I just have too much things and the space to store them is finished long ago… also I realized that if I want to play at least half of my games, I should live two or three entire human life. Just to give an idea of the huge amount of items present in my collection, I spent the last two months of my life taking pictures and making lists, working about eight hours a day just in order to make an inventory and to figure out what I have. Even now after all the time spent checking things I’m not sure to have included all in the lists,” says the seller.

    According to out seller, they wish to sell the entire collection in one piece. They could possibly be persuaded to split it up by type (PC, dreamcast, SNES, etc.), but that’s not the goal.

    Here’s what he has to say about the games collection:

    I focused on the series, so I have all the games about Mario, Zelda, Metroid, Kirby, Castlevania, Metal Gear, Final Fantasy, Sakura Wars, Super Robot Taisen just to make some example. Also I focused on some type of games, like the Shooters or the RPG: I have about all the shooters for the Megadrive, Saturn, Dreamcast, PC Engine, Playstation 1 & 2 and so on, and also I have about all the RPG, and I have to specify that the shooters are japanese but the RPG are the english version (which are for sure most collectable and valuable than the japanese). Of course there are about all the classic rare games, from Dracula X Rondò of blood (three copies, one sealed), Radiant Silvergun (two copies, One sealed), Magical Chase (two copies, one sealed) and then two copies of Ginga Fukai Densetsu Sapphire, and many many other… Hundreds of games, especially for the later consoles, are still brand new and sealed, and in many case, especially for the rare or good one, I have two copies, one to play and one sealed. I included in this auction either a nice collection of pcb board, with classics such as Burger Time, Wonder Boy, Rygar, Splatterhouse, Ghosts’n Goblins and Ghouls’n Ghosts, and much more, and also rarities like Osman/cannon dancer.

    Assuming this isn’t some sort of elaborate (and impressive, nevertheless) scam, holy hell. Maybe some super-rich dad out there will decide to give his kid the best birthday present in the history of birthdays.

    Here are some amazing images from the collection:

    [h/t Kotaku]

  • Should eBay Be Banning Sale Of These Controversial Toys?

    Should eBay Be Banning Sale Of These Controversial Toys?

    Last week, news came out that the National Entertainment Collectibles Association’s (NECA) Django Unchained action figures had been discontinued after drawing controversy from groups like the National Action Network and Project Islamic Hope. Director Spike Lee has been particularly critical of them.

    Naturally, once discontinued, the toys became instant eBay shopper bait. TMZ is reporting, however, that eBay has banned the toys from sale on the site, providing a statement from the company that they were removed because they violate its Offensive Materials Policy.

    Do you think eBay should be banning the sale of these toys? Let us know what you think in the comments.

    First, a little background. If you’re unfamiliar with Django Unchained, it’s a recently release film from famed director Quentin Tarantino. It’s a western set in the pre-Civil War south, about a slave who gains his freedom as he teams up with a bounty hunter to kill slave owners and ultimately find his wife and win her freedom as well. The movie itself has drawn its share of controversy, for a variety of reasons, but it has also won a great deal of critical acclaim and has become an instant classic to many of those who enjoyed it. The film has been nominated for four oscars (best picture, original screenplay, best cinematography and best supporting actor for Christoph Waltz, who plays the bounty hunter). It already won two Golden Globes for screenplay and supporting actor (Waltz).

    It is likely this acclaim that illuminates the spotlight on the action figures – some of the latest in a long history of toys based on popular movie characters. When controversy struck, the toy maker was quick to discontinue the line (according to reports, it was actually the Weinstein Company, the studio behind the film, that had NECA discontinue to the toys). Obviously, this made people want them more, as they were turned into instant rare collectors’ items – the kind of thing that people like to find on eBay.

    In a blog post describing the toys before they were discontinued, NECA said, “True to the vibe of the film and to Tarantino’s aesthetic, our new Django Unchained action figures are classics in the truest sense — cloth clothing, window box packages, larger scale — and still they keep the level of movie-accurate detail you’ve come to know, love and expect from NECA.”

    According to TMZ, only about 1,000 of the toys were made.

    You can go to eBay right now and find numerous listings for the toys. Here’s one:

    Django Toy Listing on eBay

    At least one seller is trying to sell the whole set of figures for about $7,000.

    Apparently they haven’t been able to keep the toys off the site. This could end up hurting some sellers, as the company “cautioned sellers not to re-list the items,” according to TMZ, which also shares this quote from an email eBay has been sending sellers:

    “Since the manufacturer of this product has discontinued the item’s sale due to its potentially offensive nature, we are not allowing it to be sold on eBay.”

    Here are some things that are still perfectly acceptable to sell on eBay, according to its Offensive Materials Policy:

    – KKK memorabilia pricing guides
    – News and magazine articles about the KKK
    – Documentaries about the KKK
    – Books about the KKK
    – The film “Birth of a Nation” and the book it is based on, “The Clansmen”
    – Stamps, letters and envelopes displaying Nazi postmarks
    – Currency issued by the Nazi German government
    – Replica or novelty stamps or currency of Nazi Germany

    Also, if you’re in the market for old racist salt and pepper shakers, this is currently listed on eBay (though it’s not clear whether or not eBay considers this a violation of terms – if so, they don’t seem to be doing a great job policing their listings):

    eBay Racist Salt, Pepper Shakers

    Listings for the toys are also showing up on other big ecommerce sites. You can currently find them listed on Amazon, Bonanza, and even in Google Shopping, which is now based solely on product listing ads.

    Now, there’s more toy/racism controversy related to a Star Wars LEGO play set.

    We’ve reached out to eBay for further comment on the Django Toys, as well as to see if the LEGO set is deemed a violation (we haven’t seen it listed on eBay as of the time of this writing). We have not received a response thus far. We’ll update if that changes.

    Should eBay ban sellers from selling the Django Unchained toys? Let us know what you think.

  • Big Changes Coming To PayPal’s Frozen Funds Policy [Report]

    Big Changes Coming To PayPal’s Frozen Funds Policy [Report]

    Eleven days ago, TechCrunch ran a story about PayPal freezing a science fiction writer’s fundraiser, and then apologizing for doing so. The company even donated to the writer’s fund.

    “We’re going to do a lot more communicating before making some pretty aggressive changes to our system to make sure that this stuff doesn’t happen,” PayPal senior communications director Anuj Nayar was quoted as saying. “At the same time, when we find out we’ve made mistakes, we’re committing to get it fixed and apologize.”

    Now, CNN is reporting that “agressive changes” are coming to the company’s frozen funds policy, as the company promises a “massive overhaul of it system within the next several months”. Julianne Pepitone quotes Nayar:

    “These are not minor — these are aggressive changes,” said Anuj Nayar, PayPal’s senior director of communications. “This is a fundamental shift in our business operations.”

    Nayar said he can’t go into specifics about what will change, but transparency is a major focus. “We want to be clear about how people can get out of the [frozen funds] situation,” he said. “We need to get better about helping people, or explaining why actions are being taken.”

    That’s not all that’s changing at PayPal. The company has already announced some big partnerships this year that will see PayPal becoming a payment option in major retail stores all across the U.S.

    In case you’re wondering why there’s a picture of Jeff Goldblum in this article…

  • Naked eBay Seller Kicks Off #ebayyellowskaterdress Twitter Trend [Semi, But Hardly NSFW]

    Naked eBay Seller Kicks Off #ebayyellowskaterdress Twitter Trend [Semi, But Hardly NSFW]

    Apparently this was popular on reddit a while ago, but a woman who posted a picture of a dress with herself standing naked in the background also managed to spark a Twitter trend, and got the web buzzing. Sometimes that’s all it takes.

    According to the Huffington Post, the woman is from Oxfordshire, England, and accidentally uploaded the pic to eBay, despite going by the user name sugartit_2. Now, the picture is all over the web (including the Huffington Post and all over Twitter).

    You really can’t see much in the picture, despite the attention it has drawn. She’s barely off to the side, and kind of in the shadows, so it’s probably not as embarrassing as it could have been, though managing to make a Twitter Trend might make up for that, if in fact, this was an accident on “sugartit_2’s” part.

    Either way, Twitter seems to think it has been a good business move.

    The trend even drew the attention of comedian Andrew Dice Clay: