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Agenda
 8:15 INTRO AND DISCLOSURES
      Mark Rowen, VP of Investor Relations, eBay Inc.
 8:20 EBAY: Leading eBay into the...
Forward looking statement
This presentation may make forward-looking statements relating to our future performance that ar...
Leading eBay
into the future

March 11, 2009
What we do: Connect buyers and sellers


                      eBay

                     PayPal
                     P Pl...
Our company has evolved
                 2004                            2008
        Classified,
        Advertising,
   ...
Our markets are still in their early days
                      Online           Online
   eCommerce
                     ...
And markets differ:
Multiple winners in shopping: Few winners in payments

        Shopping                    Payments
Online consumer behaviors continue to change


                                Our focus




  yesterday         today    ...
How we will win
PayPal Highlights


  1    Powering global eCommerce

  2    Unmatched advantages

  3    Significant opportunity ahead
  ...
What to expect from PayPal


•    A second “core” … will be bigger
            d           ill b bi
     than eBay Marketp...
Marketplaces
Our starting point: World’s largest marketplace



                                    Sellers
          Buyers



       ...
Piercing the myths

   eBay Playbook     Customer-driven
                     innovation

     Auctions as     Auctions as...
eBay Highlights



1 Focus where we can win: “Secondary Market”

2 Transform our Marketplace

3 Grow complementary formats
What to expect from eBay

   We are creating the “new eBay” and
   will win in the huge Secondary market

   This will tak...
Skype Highlights



   1 Accelerating user growth and
     outstanding fundamentals

  2 Attacking an enormous
    opportu...
What to expect from Skype


      Strong standalone business …
      St       t dl      bi
      one of fastest growing in...
Operating differently across the company



     • Customer driven
     • Unlocking technology
     • Operating discipline
Summary

• Connecting buyers and sellers … in innovative
  ways
• PayPal: Leading online global payment network
• eBay Mar...
The Global Internet
Payment Network
  y

March 11, 2009



                      24
An evolving industry



 1    Powering global eCommerce

 2    Unmatched advantages

 3    Significant opportunity ahead

...
26
Traditional payments not designed for the web




 Helga
                                      Review &
                  ...
Traditional payments not designed for the web




 Helga                             •F d t
                              ...
Traditional payment networks are limited




                                           29
Worldwide accessibility




                          30
Enabling small sellers




   Blake

                         31
Enabling large merchants across the web




         or



                                          32
Solving consumer payment problems


                Personal Payments


    Marsha                          Ali




      ...
Solving consumer payment problems


                  Personal Payments


    Marsha                                Ali


...
We’ve built a global Internet payment network



               • 190 global markets
                     g

             ...
Unmatched advantages & network effects


                             Fraud
    Internet
                           expert...
Growth in active accounts

                                      +23% TPV growing
                                        ...
Growth in global Total Payment Volume (TPV)

                                TPV growing
                                1...
Strong stated preference for online payments


     #2

          #1

                #3
                      #2
        ...
Tremendous payment volume opportunity
                TPV Growing 2-3X
 TPV            Faster than Competitors

          ...
How we’ll get there

                      Global eBay
Global
                             Adjacent
Merchant
             ...
Global eBay




              42
Penetration growing on eBay


                                                     73 78% 2011
                           ...
Significant opportunity in international markets

 2008 eBay aGMV & PayPal penetration
 ( c d g S pp g
 (Including Shippin...
Share gains across eBay markets

 PayPal penetration in eBay markets (%)
     100


     80


     60


     40


     20
...
eBay is a powerful partner
      New active               Total Payment
   accounts acquired
              q              ...
Global Merchant Services




                           47
Gaining share in Global Merchant Services


                                                      8-9%
                   ...
Success across merchant segments
                                   PayPal TPV
     eCommerce volume
                     ...
Serving the worlds largest online brands
      PP # of top 50
     online merchants

          21

          14

         ...
Share gain opportunity in North America…
        North America




                  $305-
                   315
        ...
…and in large International markets
        North America         International
                                       $46...
Bill Me Later complements PayPal


   • Helps PayPal drive coverage
     & preference

   • Helps merchants drive sales


...
Sales lift for merchants




           Sales lift through
           promotional
           offers




                  ...
Fast, convenient, secure credit for consumers




                                           55
Structural advantage in risk management

                             Credit card
                                $$$$$

 ...
Significant PayPal – BML synergies
 Grow eBay GMV

     Accelerate merchant
     sales cycle
          Speed Bill Me Later...
Adjacent payments




                    58
Many sectors need payment solutions
  Mobile &
                        Banks
  other devices




  Businesses with
  speci...
PayPal platform enables developers

                                                        225k+
                        ...
Early traction: Non-retail & mobile




                                      61
Tremendous growth ahead
    Global Total Payment Volume
                        $100-120B
                        $100 120...
$4-5 billion in revenue by 2011




            $2.4
            $2 4                  $4-5
                              ...
Long-term high growth businesses


2009-10:
2009 10: margin decrease due to
BML integration

Medium term: margins return t...
The Internet is becoming more mainstream

    1.4B global Internet users
         g


    > 50% of users are in emerging m...
An evolving industry



  1   Powering global eCommerce

  2   Unmatched advantages

  3   Significant opportunity ahead

...
The world’s favorite way to
    world s
     py
     pay and be paid
                 p
                              67
What is going on at eBay?
In Marketplaces we are

• Creating a NEW eBay

• Fixing our foundation by transforming the user
  experience and technolog...
Marketplace connects buyers and sellers globally



                                    Sellers
          Buyers



      ...
An increasingly global footprint

   North America                        Asia Pacific
                        Europe
    ...
Broad choice of formats


                           Fixed P i
                           Fi d Price
              Auction...
Unique advantages of Marketplace model

   Superior             Wide global supply of
   flexibility          products wit...
If your Marketplace is so
advantaged … why aren t you
                   aren’t
       g
       growing faster?
          ...
By 2008, we had fallen behind

                       • Customer experience had
                                      p
  ...
Our three year journey

      2008                    2009               2010+

 Fix the foundation
 • enhance trust
 • im...
2008
Laying the
L i th ground work.
            d    k
In 2008, we began to fix the foundation

                   • New feedback system
     Trust
                   • Surface ...
Our trusted sellers are doing well…
           More trusted                              Contributing to more             ...
Increased selection
Average Daily Live Listings (Millions)
                                         151      Fixed Price
 ...
Lower shipping costs = better value for buyers
% of listings offering free shipping




       30%


       20%


       1...
Necessary… Y
 N          Yes

Enough to Win… No
In 2009 we’re taking bolder actions

                  • First contact resolution for top buyers
    Trust
               ...
We must stabilize, then grow our business

     2008            2009             2010+


 Fix the foundation


           ...
Our focus: the secondary market
                           Liquidation
                   Used                   Small ret...
Secondary market: large, compelling opportunity
 Consolidating this inventory creates step-change in
         deals and se...
A Marketplace is ideal to win the secondary market

                             Marketplace model
   Secondary market

  ...
Transforming
the user experience
Before: Auctions ending soonest
Before: Auctions ending soonest



                              Sorted by time
                                  ending

...
After: relevant, well-priced inventory from trusted sellers
After: relevant, well-priced inventory from trusted sellers


                                   Sorted by best
          ...
Search experience that merges products and listings
New vertical experience for hard goods
New vertical experience for hard goods

          Inventory
                  y
          sorted by
          condition
  ...
Buyers can select from multiple SKUs for soft goods
Snapshot view for Clothing, Shoes and Accessories
Buyers can find local inventory from Classifieds




                                       Core search
                  ...
Unique power of a marketplace
Bose iPod docking station case study
Unique power of a marketplace
Bose iPod docking station case study
                        • Top search is “new in box
   ...
Unique power of a marketplace
Bose iPod docking station case study




                        • Consumer seller with
    ...
Trusted sellers compete to provide the best deals
Garmin Nuvi 200w eBay sale history (10/19-11/10)

              Seller 1...
Deals are better than ever

 In the U.S., a new Tivo HD
 DVR costs an average of
 12% less than competitiors
Daily Deals driving great value for consumers
Breadth of inventory
                            Secondary Market

   Latest        Latest        Prior Gen   All generati...
eBay is the best way to access the world’s inventory
eBay is the best way to access the world’s inventory

                     Retail-like option:
                    experie...
eBay is the best way to access the world’s inventory



              Marketplace option:
              great deals & value
eBay is the best way to access the world’s inventory




                             Local option:
                      ...
eBay is the best way to access the world’s inventory




                               Advertising:
                     ...
We will continue to transform our user experience

eBay will be:

• A trusted, easy-to-use and rewarding shopping
  experi...
Becoming the channel of choice for web’s best sellers

                  • Best channel for velocity and cash flow
    Vel...
A new day for
technology at eBay
Top eBay technology questions


 “I thought you were going
 to fix search?
        search?”

 “What are you doing to
     ...
2009 Priorities



       1 Search

       2 Catalog

       3 User Experience
         Use xpe e ce

       4 Platform
Search in a real-time marketplace

All changes immediately reflected in search
        g             y
80M+ from bids, pri...
Search in 2009


Improve relevance
Data mining & machine learning

Better sorting
Best Match surfaces most relevant info

...
2009 Priorities



       1 Search

       2 Catalog

       3 User Experience
         Use xpe e ce

       4 Platform
Catalogs: bringing structure …




                 UPC code



                           Bought
                        ...
… to unstructured data
… to unstructured data



                            Big
                         pictures




         “Satin floral
   ...
eBay s
eBay’s
Catalogg
Bringing structure to
unstructured data
2009 Priorities



       1 Search

       2 Catalog

       3 User Experience
         Use xpe e ce

       4 Platform
User experience
User experience
User experience: visual browse



                   “More like
                   this color”
                        col...
User experience: category customization
2009 Priorities



       1 Search

       2 Catalog

       3 User Experience
         Use xpe e ce

       4 Platform
Opening eBay.com to developers




 Native on
   eBay
    B
Transforming technology at eBay

     2008                 2009                  2010+

 Search & Platform
 • Best Match
 ...
Driving the technology agenda at eBay differently


 Technology driving strategy
 Innovation-driven, world-class
 Innovati...
Growing our Formats
We’ll continue to grow formats like Classifieds
Classifieds global revenue



                             $270M
         ...
Classifieds market: large, growing, complementary
   Global online classifieds market size
           Services, dating, jo...
Classifieds is a strong global opportunity


  Canada
      d              Netherlands
                                   ...
Multiple ways to monetize Classifieds
                         Feature Fees
  Insertion Fees                              ...
Fixed P i
                       Fi d Price
          Auctions
          A ti




                       Classifieds
     ...
We are reshaping the Marketplaces business
Marketplaces revenue
   Auctions
                         $5.6B
               ...
We are reshaping the Marketplaces business
Marketplaces revenue                  $5-7B
   Auctions
                       ...
3 things to remember
A New eBay


     Transforming our Marketplace...
                       Marketplace
 1   Fixing the foundation

     Focu...
One of the fastest growing
     5 year-olds in history



With accelerating growth, and outstanding
                gg    ...
Enabling the World’s Conversations
How we make money
                       What s
                       What’s Paid?
What’s F
Wh t’ Free?
          ?
     ...
Skype is one of the fastest adopted
     technologies in history
With massive (and accelerating)
                usage
                   Skype Calling Minutes (billions)
 8%             ...
Remarkable global reach

                                     Europe
                                     E
        US/CAN...
And a powerful business model
        p

Slightly ahead of
eBay and PayPal                            Skype Revenue
    at...
With Outstanding Fundamentals
                   Skype Segment Margin
                                                    ...
An historic time:
             Communication is moving from
                hardware to software




                     ...
=
                Voice           Data


Means there is potential for Skype “everywhere”
                            r
Unlocking massive benefits for users


                     Easier / Everywhere
Richer Experience                         ...
The opportunity
  to become the world’s leading
                world s
communication software company.
The opportunity is
                                       massive
                                           i
Telecom has...
In 2008 we sharpened our focus on
customers, with remarkable results
    t        ith     k bl      lt




               ...
Leading to Accelerating Revenue Growth


      YoY Growth Rates (Revenue)
              70%

              60%
           ...
Higher VIDEO penetration led to more users,
         and more calling minutes
           d        lli    it




     Video...
SUBSCRIPTIONS added a popular new paid
   product,
   product and increased engagement
We hit an inflection
  point in 2008
With Skype’s size, small changes make
     Sk   ’i          ll h         k
         a HUGE difference


Increasing penetra...
Our St t
                   O Strategy



2               Mobile   Business   Platform
    Invest in




1   Leverage our ...
Core CONSUMER is a $240B market
      2008 Worldwide Telecom Market1 - Total Market: $1.4
                           billi...
And we have a clear plan to attack it

1.
1    Continue driving
     new users

2.   Better promote
     our paid
     pro...
$602B Wireless Voice Market
                      $602B
                     Wireless
                     Wi l
          ...
Our Mobile Approach


         Availability
         A il bilit post-load
                       tl d

         Device pre...
Skype is available for download
  yp
  today on several platforms




                    Approximately 12 million downloa...
Skype’s p
  yp    partnership with Hutchison 3
                  p



          500K units sold, one of the most
         ...
No Skype download required
          yp             q

Partnership with leading
worldwide mobile
handset
h d t provider
  ...
Business is a $203B market




                       $203B
                    Fixed Voice
                     Business
A compelling business offering
                g                 g

            Skype is already used in business
  Why?
 ...
Platform: A Thriving Ecosystem
                   g     y



                                      users
 190 Skype certif...
We are starting
a new chapter in our history
Act 1

        2003                               2008




                Platform: Desktop/Laptop
                Revenu...
Act 2
          2009                    2011




                 • Platforms + Mobile
                 • Diversified reve...
2012 and b
        d beyond
               d




        • Platform
        • Balance of revenue streams
“Any”
 Any    • M...
What will our business look like in 2011?


  • We will more than double revenue

  • While maintaining segment
    margin...
One of the fastest growing
       5 year olds in history



With accelerating growth and outstanding
                  gro...
Our business model &
operational excellence

March 11, 2009
What you heard today…

…What you can expect
  What o        e pect
 from us i th f t
 f       in the future
We play in very attractive markets
                                          Online             Online
      eCommerce    ...
We have the three leading brands on the web




• $5.6B Rev 2008 with • $2.4B Rev in 2008 with • $0.6B Rev in 2008 with
  ...
Proven and powerful business models

Strong cash
      g
                   High growth
generation…                       ...
M&A: Using financial strength to extend our reach

 Strengthen       Extend          Acquire
 geographic       formats /  ...
A significantly diversified portfolio
                                  2008
         2004
                               ...
An expanding global footprint
North America             Europe                      Asia
   48% of total          41% of t...
Portfolio has generated excellent financials
                                              Non-GAAP
            Revenue   ...
Attractive returns on invested capital

                                      ROIC*


                                    ...
2008 was a tough year …
Full year performance was ok …

                               2008     1st half   2nd half

     ...
... and 2009 will be a challenging year

  • A tough economy
  • Turnaround effort continues in
    Marketplaces
  • Signi...
Positioning for the future: Clear priorities


  • Capitalize on PayPal’s enormous potential
                  PayPal s
  ...
PayPal Merchant Services … ~$30B TPV

 Merchant services revenue
  Strong growth despite difficult     …will continue to g...
PayPal On eBay … ~$30B TPV

 On-eBay Revenue
    Decelerating along with           …increased penetration
       eBay core...
PayPal: the business model

   Great deals for
                          Consumer funding choice     Risk management
     ...
PayPal: Capitalizing on enormous potential
PayPal revenue
                                            $4 - $5B
           ...
Marketplaces: Broad choice of formats


                           Fixed P i
                           Fi d Price
       ...
Marketplaces Fixed Price format … $22B GMV

  Fixed price revenue . . . $2B 2008                           Double
        ...
Marketplaces: Complementary formats

               ~2X                    ~2X
Advertising            Classifieds
        ...
Auction format: $23B GMV

                                                         CAGR in
  Auction revenue . . . $2B 200...
Marketplaces: A state of transition
Marketplaces revenue
                                                $5 - $7B
        ...
Skype: Powerful standalone business
Skype revenue
                                             $1B +
                     ...
Strengthening the portfolio
                              $10 $12B
                              $ -$
                    ...
Building bigger and stronger
  B ildi a bi            dt
portfolio will require investments …

… we will need to operate s...
Achieving full potential requires…

 Operating                                Significant
                     $
         ...
Operating smarter: we’ve simplified the org

 Simplified organization
                              ~$450
 by removing ~10...
Operating smarter … improved customer experience
We spent $700M in 2008 on customer support …

                           ...
Operating smarter: Lower processing costs
We spent $700M in 2008 in processing PayPal transactions …

      Providing
    ...
Operating smarter to create capacity to invest
                               Operational
High growth lower               ...
Appendix
Reconciliation of GAAP
                  to Non-GAAP EPS
                                                                 ...
Calculation of FCF

                                                                 Twelve Months Ended
                 ...
Calculation of RoIC
(in thousands, except percentages)

                                                          Q4'04   ...
Solving consumer payment problems Personal
Solving consumer payment problems Personal
Solving consumer payment problems Personal
Solving consumer payment problems Personal
Solving consumer payment problems Personal
Solving consumer payment problems Personal
Solving consumer payment problems Personal
Solving consumer payment problems Personal
Solving consumer payment problems Personal
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