GameStop CEO Ryan Cohen might be ready to pull the plug on his ambitious plan to purchase eBay for $56 billion, a new report claims.
Latest Developments in Game
Cohen--who came up with the plan while seated on his porcelain throne--had been pursuing the deal ever since it was announced, but eBay rejected the offer, saying it was “neither credible nor attractive.” According to Bloomberg, Cohen is now considering a different strategy that would revolve around a partnership between eBay and GameStop to sell more collectible items like trading cards.
Industry Impact
GameStop has roughly 1,600 physical stores across the US, and Cohen has also spoken about creating a marketplace for digital gaming items through eBay.
What This Means for Businesses
While eBay specializes in selling physical items like art and trading cards, Cohen added that video game in-game items were "massive," and eBay would be the perfect platform to sell them.
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