Updated

: Jul 20, 2026 4:08pm UTC

Video game and collectible retailer GameStop now owns nearly 10% of eBay following its offer to purchase the online auction website earlier this year.

An SEC filing shows GameStop currently controls 43.4 million eBay shares, or about 9.8% of the company. That's nearly double the 5% stake it reported when CEO Ryan Cohen revealed his goal to acquire the company in May.

"eBay is a platform that I can build into something much more profitable and much larger," Cohen told Bloomberg in an interview last week. "The ability to take GameStop stores and our experience in gaming and refurbished tech and collectibles, combined with eBay and be a leader in live commerce, build out an in-game digital marketplace, use the stores for same-day authentication, and ultimately pull out significant cost.

"None of these things come at the expense of growth – it's actually the opposite. The more efficient you get, the easier it is to grow. It makes too much sense. That's why I want to buy it. It's not that complicated."

eBay found itself in headlines with GameStop on May 4 when Cohen announced his company had made an unsolicited $55.5 billion offer for the company at $125 per share in cash and stock. The goal, he said at the time, was to become a "legit competitor to Amazon." The CEO, who is chipping in $500 million of his own money, posted about selling items on eBay to pay for eBay shortly after.

eBay rejected the offer one week later following what it called a "thorough review." The company's full, public response to GameStop called its bid "neither credible nor attractive."

As GameStop increases its ownership to 10%, he told Bloomberg that eBay has not reached out in the interim. He said he hopes it does, adding, "but they're entrenched, and they're hiding behind their advisors."

"What is the goal of business? What is my goal?" Cohen responded when prompted to further clarify his goal with eBay. "I own a lot of stock, and I don't have any perverse incentive, so it's to make the business a lot more profitable and to maximize shareholder value. So, that's the plan.

"It's not that complicated, and I've spoken about huge growth areas within cutting costs. That's just short-term, but live commerce and building out an in-game visual marketplace. So, I share that with you, but everyone in the past said, 'Well, what's the business plan? What's the business plan?' But they only do that with GameStop for whatever reason. Well, you know what the business plan is? It's to make money."

In January, GameStop announced it would be closing hundreds of stores. The move arrived alongside news that Cohen was aiming to take home $35 billion in performance-based stock options. Elsewhere in the Bloomberg interview, the CEO insisted that Sony's decision to cease production of physical game discs "doesn't matter at all."

"I’m not going to call my shots," he added, "but we’re coming for eBay one way or another."

Photo by Brandon Bell/Getty Images.

Michael Cripe is a freelance writer with IGN. He's best known for his work at sites like The Pitch, The Escapist, and OnlySP. Be sure to give him a follow on Bluesky (@mikecripe.bsky.social) and Twitter (@MikeCripe).