Ben Gilbert: preference

Transcript context

…Anyway, maybe that’s essentially what it was. Yeah. That’s a precarious position for a company. eBay was in-house building a very similar solution and they were partnering with Wells Fargo. I think it was called Billpoint. In looking at kind of the way that eBay was facing decisions at this point was okay, we love electronic platforms in our platform. I think at the time of the PayPal acquisition it was about a third, let’s see, Forty percent of eBay transactions. And Meg Whitman who was the CEO at the time said that she hopes that figure will increase dramatically. So eBay’s highly incentivized to make these really fast electronic transactions occur. They built Billpoint in-house. It’s an interesting sort of business on its own clearly as PayPal was demonstrating. eBay faces this decision as okay, 1 in 4 auctions on our platform are settled with eBay. They’re pretty much entirely dependent on us. Settled with PayPal.…

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