EBAY
#On the first half of the question, international was really just rounding up a point.
I wouldn't characterize it to be any different than the prior quarter.
So to answer your question, no, I wouldn't flag anything.
<UNK>, on the markets.
Yes, <UNK>.
Vis-a-vis marketing, we are a very measurement-oriented company, as you know.
And the reason that historically we've been somewhat averse to moving our marketing up the funnel is because it gets harder to measure value.
It's easy to measure value when you are marketing down the funnel and it gets harder as you move up.
But that doesn't mean there is no value.
So we have a way ---+ we are going to do ---+ as we increase the amount of up-the-funnel brand marketing, we are going to do our best at measuring value.
It certainly needs a longer time frame.
I think it is at least a year in which it needs to be in the market to really resonate and start to shift the perception and consideration of the eBay brand.
And we're going to watch it.
That's not the kind of thing you watch every day like you do down-the-funnel marketing, but we are certainly going to watch it carefully.
We've got a measurement framework for it.
We'll hold it ultimately to the same standard that we hold any investment we make.
But it is a little bit longer cycle than what we are used to.
And it will take ---+ we will need to leave it on and have the discipline to leave it on over a longer time frame to know if it works.
Look, I mean, obviously, we believe that the sum of the activity that we are doing can drive higher revenue ---+ GMV growth.
We do believe that.
The time frame will be what it is in some respect and we'll be as aggressive as we can.
And it will be a kind of slower burn in the sense that it isn't a one-quarter wire on.
It will roll in as we roll these experiences in, which will be a build over quarters.
But I don't ---+ we have certainly not changed our original philosophy that we believe that there can be higher growth in this business, given what we're doing.
Yes, <UNK>, we are not changing our capital allocation strategy based on the sale of the MELI asset.
The reality is we have a pretty well clearly defined 2016 buyback that we'll continue to execute.
And then I would expect to some level that will continue in the future.
But it's not going to ---+ it's not changing how we are thinking about capital allocation and our strategy around that.
Thanks for the question.
On Corrigon, we have been working with Corrigon previously.
And the answer is it's already wired on.
If you look at Collective experience that we launched this week, it's actually using Corrigon to do background image improvement.
It's a great experience.
If you haven't seen it, please go look at it.
Just type Collective into eBay Search and go take a look at that vertical experience.
That is using the Corrigon technology to in essence take seller images and improve them and remove the backgrounds and make them look just about museum quality.
So the answer is we're already using it and will expand the use of that over time.
Vis-a-vis the other acquisitions like SalesPredict and Expertmaker, we are already starting to use that in the more backend part of the structured data initiative to create catalogs and taxonomies, which is happening with pace.
So all of these things ---+ almost all ---+ I believe all three of them we had been working with prior to buying them.
And they are wired on now and they are ---+ they will come online with even more spectrum over time.
Vis-a-vis the VR rollout of StubHub, I think I had said that it's now 55 venues, which ---+ and we'll just keep marching down that path because customers are actually using it.
I think we've got one of the best use cases for VR actually driving commerce.
And it makes sense.
It's an immersive experience.
It's a high ASP sale.
And we're learning from that about how we might bring VR into more core eBay activities where immersion matters, where high ASP drives careful consideration of the visual image before purchase.
So we like VR and augmented reality.
And we think they're going to be meaningful in commerce and we want to be a leader there.
