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eBay Adds Lyft Co-founder & CEO Logan Green to its Board

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E-commerce giant eBay Inc. (EBAY - Free Report) on Tuesday announced the inclusion of Lyft co-founder and CEO Logan Green to its board. The company recently increased its board’s size from 11 to 12 seats and Green will fill the vacancy thus created.

Green, 32, is a young entrepreneur who co-founded Lyft in 2012 as a ride sharing company that has been growing significantly under his leadership. Recently, Lyft partnered with Chinese ride sharing giant Didi Kuadi to allow customers to book and pay for rides through each other’s service while travelling abroad. The company has tied up with General Motors Company (GM - Free Report) to work on self-driving cars.

Before being a part of Lyft, Green had founded a ride sharing program Zimride at Cornell University. Before that he developed the first car share program at the University of California. He also served as a board member of Santa Barbara Metropolitan Transit District.

So it appears that eBay has decided to tap Green’s potential and experience in pulling itself up. eBay has been facing a hard time since its separation from PayPal Holdings, Inc. (PYPL - Free Report) last year.

The split forced the company to shut down almost all of its standalone mobile applications and its on-demand delivery service, eBay Now. Since then, the company has been facing stagnant revenues and growing competition from Amazon.com, Inc. (AMZN - Free Report) .

eBay expects Green’s technology oriented experience and insights to be of great use to the company. Its CEO Devin Wenig stated that “Logan understands the possibilities of the sharing economy for people around the world, and his perspective is aligned with eBay’s purpose as we connect millions of buyers and sellers to create greater opportunity.”

It would be interesting to see how Green can contribute toward eBay’s growth, going forward.

Currently, eBay is a Zacks Rank #3 (Hold) stock.

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