PayPal separates from eBay?

Online auction company eBay has announced that it will split the PayPal payment service into an independent company, expected in the second half of 2015.

The information above helped eBay shares increase more than 6% at the beginning of yesterday session. "This is the best way to bring lasting value to shareholders," eBay said in the announcement.

The company also announced new leadership teams for both companies. Current CEO - John Donahoe and Chief Financial Officer - Bob Swan will leave the company after the split. Devin Wenig - eBay Marketplaces' current chairman will become the company's new CEO.

Meanwhile, Dan Schulman - leader of the American Express will be the President of PayPal until the split. After that, he will only hold the position of CEO of this company. The former CEO of PayPal joined Facebook in June.

Since the beginning of this year, billionaire investment guy Carl Icahn has called on eBay to split from PayPal. But at the time, Donahoe protested that "eBay has made a big contribution to PayPal's growth" and the split would "scramble" the company.

PayPal was founded in 1998 by Peter Thiel - one of the earliest investors in Facebook, and Elon Musk - CEO of electric car company Tesla Motors. In 2002, PayPal was acquired by eBay for $ 1.5 billion and is now its engine of growth. PayPal's last quarter revenue jumped 20% to $ 1.95 billion, while eBay's overall revenue rose 9%.

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