eBay bans GameStop CEO’s account after he started listing store signs and old carpets to fund his $56 billion offer to buy the marketplace
eBay bans GameStop CEO’s account after he started listing store signs and old carpets to fund his $56 billion offer to buy the marketplace
Apparently every dollar counts in GameStop’s $56 billion effort to acquire eBay.
GameStop’s CEO, Ryan Cohen, already has a $20 billion financing commitment from TD Bank to put toward the acquisition, but questions remain about how the rest of the deal will be funded given GameStop’s market cap is only about $11 billion.
On Wednesday, Cohen said in a post on X he had come up with a creative way to fill the gap: “I’m selling stuff on eBay to pay for eBay.” If he sold all the merchandise listed on his seller page, which includes everything from baseball trading cards, video games, and other items, at the current top bids, Cohen would be able to collect more than $138,000, a minuscule fraction of the total $56 billion.
Yet, less than 10 hours after Cohen’s initial X post, his account, ryan_5050 was suspended, according to a screenshot he posted on X.
The trouble may have started just hours after his initial social media post. Cohen had listed a myriad of items for sale on the online marketplace site, including old GameStop signs, a GameStop mug,........
