In the United States alone, eBay had raked in more than 9 billion dollars by 2010 and was worth more than $22 billion. Today, eBay’s multi-billion-dollar venture has operations in over 40 countries across the globe. It’s also worth noting that eBay has literally transformed the face of both domestic and international trade. It’s probably safe to assume that Pierre and his founding partners had no idea that their business model would go on to become one of the most profitable and well-known marketplaces on the planet. Items were arranged by topic or category and the seller could define a starting price for the item, initiate an online auction for that item, and then sell to the highest bidder after a specific period of time. All of this was to happen in a fully automated manner, giving both buyers and sellers great independence. Then, anyone interested in purchasing such items could browse the listings on eBay. From large corporation CEOs to your average next-door neighbor, everyone seemed to love eBay’s new style of commerce.ĮBay’s basic design and business model was to promote and offer a place where anybody interested in selling something could list their item for sale. That’s because in the early days, eBay’s main goal was to connect business people with merchandising and supplying opportunities.Īt the time, the three founders had no idea of the impact eBay would have on nearly everybody’s approach toward buying and selling. Pierre and Jeff became billionaires within seven months of eBay going public.įrom early on, the three founders we keen on developing partnerships with some of the top merchandising brands at the time, such as General Motors and Disney. Within just the first three years of operation, eBay had about 30 employees and had managed to generate nearly $5 million in revenue, with over half a million website visitors. Whitman was valued for his knowledge in marketing and branding, and would later become eBay’s CEO and president. Omidyar then joined forces with his friend Jeff Skoll and later convinced Meg Whitman, an acquaintance from Harvard Business School, to get on board. As the idea began to take shape, Pierre saw the potential in it to become an international marketplace to serve both buyers’ and sellers’ needs. ![]() It actually started as a favor that the founder, Pierre Omidyar, was working on for his girlfriend. History of eBayĮBay sprang up from one man’s vision in 1995, of a platform that would enable collectors to trade their Pez dispensers. ![]() You’ll find just about anything you want on eBay, with sellers ranging from small mom and pop businesses to giant retailers such as Macy’s and Dick’s sporting goods. As of today, eBay boasts more than 162 million active users all over the world, with at least 800 million items listed for sale at any given time. Their logo design and brand is recognized by millions of people all over the world. A look at the eBay Logo and the History Behind the Company.ĮBay is the number one online marketplace on the planet.
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