NEW YORK (
TheStreet) -- Marc Andreessen, co-founder and general partner of Andreessen Horowitz, fired back at hedge fund manager Carl Icahn, who recently blasted
(EBAY) and its board members for not spinning off its PayPal unit.
TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, pointed out that Andreessen, the creator of the old Netscape web browser, sits on the board of eBay as well as Facebook (FB) and Hewlett-Packard (HPQ).
Cramer agreed spinning off PayPal would indeed be good for shareholders, but Icahn's war of words -- which included calling into CNBC -- may not be the best way to get what he wants. It didn't help that Icahn questioned the integrity of some of the board members and past transactions with eBay, which angered Andreessen enough to prompt his own allegations against Icahn, Cramer said.
Silicon Valley is siding with eBay, Cramer noted. Reid Hoffman, co-founder of LinkedIn
(LNKD), wrote a long letter defending eBay and its desire to hold on to PayPal, added CNBC's David Faber.
- - Written by Bret Kenwell in Petoskey, Mich.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV