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PayPal's Max Levchin on eBay split, new ventures

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Levchin: PayPal given a second chance

One of PayPal's co-founders provided a vote of confidence Monday for eBay CEO John Donahoe's move to spin off the electronic payment unit into a separate company.

The e-commerce site announced last month that it would split PayPal into a separate business, 12 years after it had acquired it for $1.5 billion.

On CNBC's "Halftime Report, " PayPal co-founder Max Levchin praised Donahoe, calling him "a great steward to the company."

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