Starboard Pressures EBay to Split Off Classifieds Business

Activist investor Starboard Value is ramping up pressure on EBay Inc. to separate its classifieds business and implement more aggressive operational targets, arguing the e-commerce company has not done enough to improve its performance.

The New York-based hedge fund, which owns more than 1% of the company, wrote in a letter to the management and board that EBay hasn’t done enough in the nearly 12 months since agreeing to review its classifieds business along with ticket reselling business, StubHub, which was sold last year.