GameStop wants to buy eBay for $56 Billion

While it remains a major part of the video games market in the US, GameStop in recent years has struggled to maintain its relevancy – especially as online shopping and digital game purchases continue to eat into their margins. Though the company has tried a number of different methods for success, including an early embrace of NFTs, GameStop is now seemingly making their biggest gamble yet: wanting to acquire the online giant eBay for $56 Billion.

As reported by The Wall Street Journal (paywalled), GameStop CEO Ryan Cohen has expressed desires to make a bid for the online shopping giant eBay, telling the publication that he plans to offer $125 a share for a total of $56 Billion.

GameStop currently has a 5% stake in eBay, but according to Cohen, acquiring the company entirely would eventually allow for it to be turned “into something worth hundreds of billions of dollars,” adding that “there is nobody who is more qualified, based on my experience, to run the eBay business.”

It appears Cohen is committed to this strategy, telling The Wall Street Journal that if eBay isn’t receptive to the offer then he’ll be willing to go directly to the shareholders for a hostile takeover of sorts.

GameStop has been at a crossroads for quite some time now, and so it seems they believe that acquiring eBay would finally help put them back on the map. Whether the acquisition will go through or not, we will have to wait and see – but things could get messy.

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KitGuru says: What do you think of GameStop’s latest effort? Is trying to acquire eBay the correct move? Let us know your thoughts down below.

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