eBay said Thursday that early venture capital backer and longtime board member Robert Kagle plans to step down as a director of the company at its next annual shareholder meeting.


Kagle made one of his earliest investments in eBay of between $5 million and $7 million as a partner with Silicon Valley venture capital firm Benchmark Capital.
The value of this investment multiplied many times over during the dot-com era and was worth upward of $5 billion at its peak. It is believed to be one of the most lucrative VC investments ever made, according to reports at the time.

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