GameStop's bid for @eBay summarised The deal • @gamestop is offering $125 per share for eBay, which is a big 46% premium over eBay's recent stock price • Half the payment would be in cash and half in GameStop shares • This values eBay at about $55.5 billion • Not a done deal yet, but GameStop already owns about 5% of eBay through stocks and derivatives. They're filing official notices tomorrow How GameStop Plans to Pay For It • They already have ~$9.4 billion in cash and investments • A major bank (TD Securities) gave them a "highly confident" letter for $20 billion more. The rest comes from issuing new GameStop shares The Big Money-Saving Plan • GameStop believes they can cut $2 billion in costs per year pretty quickly by trimming eBay's spending on marketing, product development, and admin. For context, eBay spent $2.4 billion on marketing last year but only added 1 million new buyers • If successful, this would boost earnings significantly in the first year The strategic story • Turn their 1,600 physical stores into hubs for authenticating items, taking in products, shipping, and even live selling/streaming • Double down on trading cards (Pokemon, One Piece, Sports), collectibles, and refurbished tech - categories where GameStop already has expertise • @ryancohen (CEO) would become CEO of the combined company What This Means for Collectibles and TCGs GameStop's stores could become convenient places for people to bring in cards, sneakers, comics, or memorabilia for authentication and selling on eBay - making it easier and safer for average collectors to buy and sell The focus on live commerce and physical fulfillment may also boost visibility hobby (that is ever growing), potentially driving higher prices and more volume in trading cards TLDR: position collectibles as mainstream, accessible retail assets instead of just online-only, which could attract new buyers and increase liquidity across the entire space.