Report: eBay makes acquisition after PayPal split

San Jose, Calif. – eBay Inc. is not wasting any time in moving on now that its long-anticipated split with PayPal Inc. is official. According to MarketWatch, eBay has acquired online consignment apparel retailer Twice, and will not maintain the Twice brand.



Under terms of the acquisition, eBay will obtain the IT infrastructure and some top executives of Twice, but the company and its site will close down. The Twice executives who make the transition will work in the eBay West division, which also operates on a consignment model where eBay brokers sales of goods by its third-party sellers and keeps 20% of any revenues. eBay will not acquire any other assets such as warehouses.