eBay Mergers and Acquisitions Presentation Deck

Leveraged cost structure ● ● ● Efficient customer acquisition Word of mouth significantly reduces user acquisition cost High operating leverage - - - Infinitely scalable network infrastructure with low capex Peer to Peer technology requires minimal capex Distributed architecture eliminates single point of failure Centralized server(s) for authentication for basic services - Centralized server(s) for premium services, e.g. voicemail - - Minimal incremental cost for each user call Software business model with low fixed costs - Outstanding cash generation capability eb Y PayPal skype 74

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