EBay (NASDAQ: EBAY) is facing an avalanche of competition from larger retailers who are building up dominant e-commerce sales channels. Wal-Mart Stores has built a $15 billion e-commerce business which posted 69% growth in gross merchandise volume (GMV) in its most recent quarter. Amazon.com has already well exceeded $100 billion in annual sales and is still growing like a start-up. Meanwhile, eBay’s $85 billion in trailing 12 month GMV has only barely nudged from $83 billion in 2013.