Levers of Value

$EBAY's partnership with MercadoLibre, established in 2001, was a pivotal strategic alliance where eBay acquired a 19.5% stake in the Latin American company in exchange for its Brazillian subsidiary, iBazar. This deal included a 5 year non compete clause, allowing MercadoLibre to become the dominant "eBay of Latin America" before eBay exited its stake in 2016

Why the $EBAY should pursue a renewed partnership with $MELI instead of the $GME merger

The original partnership between $MELI and $EBAY generated serious returns. eBay's $200mm investment would be worth $13 billion today (8.1 million shares x $1557 share price) That is a 70x return in 25 years. Building another partnership could be another homerun for shareholders, and provide the strategic reinvigoration that $EBAY desperately needs.

Growth Prospects: $MELI and $EBAY partnership would capture serious expansion Latin America represents significant untapped e-commerce potential E-commerce penetration is only ~10% in Latin America versus 30% plus in North America 100+ million people will enter the LatAm consumer economy over the next decade $MELI's 49% YoY revenue growth shows this market momentum The eBay partnership provides exposure to growth but doesn't require eBay to build the infrastructure MELI already has in place $GME's business is in structural decline, it is a melting ice cube. Pro forma $GME $EBAY cannot become a legit competitor to Amazon. Serious integration risk