eBay Making Big Push for Mobile: CEO Donahoe

eBay president and CEO John Donahoe is banking on mobile to push his company forward.

Donahoe told CNBC's "Closing Bell" Thursday he expects this year's mobile payment volume will top $20 billion, adding that 120 million people have downloaded eBay's mobile payment apps.

eBay reported an 18 percent jump in fourth quarter revenue on Wednesday.

Donahoe said results were driven by increased volume. "The core eBay marketplace is back and new user growth is accelerating."

Donahoe also explained the company's original auction model of selling has shifted.

"Five years ago our marketplace business was 70 percent auctions and 30 percent fixed-price sales. Now its 70 percent fixed-price sales and 30 percent auctions."

By CNBC's Shannan Siemens. Follow her on Twitter @ShannanSiemens.