What is the relationship between eBay and PayPal in the context of the input sentence. Choose an answer from: product/material produced; manufacturer; distributed by; industry; position held; original broadcaster; owned by; founded by; distribution format; headquarters location; stock exchange; currency; parent organization; chief executive officer; director/manager; owner of; operator; member of; employer; chairperson; platform; subsidiary; legal form; publisher; developer; brand; business division; location of formation; creator.

Spun off in July by auctioneer eBay Inc, PayPal is now clear to do deals with big vendors like Staples and move into back office operations and other services, according to Barron's.
subsidiary