After a report surfaced that GameStop was planning to buy eBay, CEO Ryan Cohen confirmed he made an offer to do so, building on the company’s recent turnaround. This unexpected bid raises eyebrows, considering GameStop is still facing financial challenges and eBay is a much larger player in the market.
GameStop has faced difficulties over the last ten years. As more people buy games digitally and shop on Amazon, the video game retailer has tried to adapt by selling merchandise like collectibles and trading cards, and even retro games in some stores. In 2023, Ryan Cohen, known as the “Meme King” due to the 2021 stock market surge, became the company’s new leader. Meanwhile, eBay is also struggling with increased competition from Amazon. While eBay tries to improve its finances, sellers are noticing lower sales and shrinking profits due to higher fees.
GameStop Wants to Buy eBay at a Premium
Okay, so Ryan Cohen, the CEO of GameStop, is apparently trying to buy eBay! He’s offering $125 a share, which would come out to around $55.5 billion total. GameStop says that’s a 46% jump from what eBay’s stock was trading at back on February 4th, 2026 – that’s when GameStop first started investing in them. It’s kinda crazy to think that back then, GameStop itself was only worth about $25 a share, with a total value of around $11 billion. Cohen thinks if GameStop and eBay team up, they could really go head-to-head with Amazon, which has always been the biggest rival for both of us.
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EBay has publicly acknowledged receiving an initial, non-binding offer from GameStop, clarifying that no prior discussions took place. EBay’s board is now reviewing the proposal to determine what’s best for the company and its investors, and is currently advising shareholders not to take any action. However, GameStop, led by Ryan Cohen, is prepared to pursue a more aggressive takeover attempt if EBay rejects the offer, with a goal of significantly increasing the company’s value. Following this announcement, GameStop’s stock price has decreased by 2%, while EBay’s has risen by 5%.
For years, Amazon has steadily gained customers from both GameStop and eBay, largely due to its efficient shipping, convenience, and the benefits of Prime membership. GameStop and eBay, meanwhile, have seen their customer experiences suffer. That’s why Ryan Cohen’s proposal to combine GameStop and eBay to compete with Amazon seems questionable. The merger would likely leave GameStop with a lot of debt and combine two companies already struggling to adapt to modern shopping habits, and the reasons for doing so don’t appear very strong.
Ryan Cohen suggests that after the merger, GameStop stores could become places to verify the authenticity of items bought and sold on eBay, like trading cards and old video games. This partnership could give GameStop and eBay a strong position in the market for vintage collectibles and retro gaming – areas where eBay already does well and that fit naturally with GameStop’s business. However, these markets are relatively small and probably won’t lead to a big increase in sales for either company. It’s hard to say what’s next for GameStop, but the company has consistently shown it’s resilient and won’t give up easily.
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2026-05-05 05:05