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The A, B, Cs Of PayPal's Next Act

Today is the day that Carl Icahn has been waiting for. The day that PayPal (NASDAQ:PYPL) begins trading as a company independent of the parent he said made it impossible to recognize and monetize the value that was buried beneath the eBay (NASDAQ:EBAY) facade.

Over the years, we have all gotten quarterly peeks of that value when eBay reported its results.

Back in 2007 — the year the iPhone was introduced and Amazon (NASDAQ:AMZN) and eBay were both celebrating their 12th birthdays — PayPal was about 25 percent of eBay’s total revenues. Read more