Utilize the input text as a context reference, choose the right relationship between EBay and PayPal from the options. Options: 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.

EBay Bonds Bonds of EBay Inc. fell immediately after it announced plans to split off its PayPal division last September, bowing to pressure from activist investor Carl Icahn.

Answer: subsidiary