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eBay

eBay

Tagline

Connecting Buyers and Sellers Globally

Net Worth

$34,639,000,000

Started in (City)

California

Started in (Country)

United States of America

Incorporation Date

03rd December, 1995

Bankruptcy Date

-

Founders

  • Pierre Omidyar

About

Pierre wanted to empower the common people and not just corporations internet was a powerful tool, just the magnum power was to be realized, he understood and desperately wanted to understand the psychology of a buyer what a common American was ready to buy and put their, money into some buy for fun., some in need each to his own, some spend a lot of money online and some look for subsidized values. This was the ecosystem of eBay which connected with the common people If thirty years ago, you would think of buying a second-hand car, you would probably be a laughing stock this very value was diminished by eBay when the seller put beautiful pictures of his car and it was sold who " clicked extraordinary photos and today every minute a car/ truck or a bike is sold

Beginning

If you believe in romantic versions here is one for you on third September 1995- founder Pierre Omidyar fiancée wanted a Pez dispenser, she desired to collect Pez candy dispensers as part of this desire Pierre Omidyar created a way by which she can purchase sell things online and that was the beginning of eBay Again let us look into a pragmatic one. Pierre saw many imperfections in the market and wanted to visualize his idea for a perfect market. Pierre was a genius to remark, A visionary Pierre organized for what was then known as auction web and his first buyer was Mark Fraser. In 1995, Pierre had listed a broken laser pointer for sale on the site (then known as Auction Web) that he created over that year’s Labor Day weekend. To his surprise, someone came forward and bought the laser pointer for $14.83.

Road to Success

The broken laser pointer was bought by mark and the reason behind it is lesser-known What Pierre wanted was to empower the common people and not just corporations internet was a powerful tool, just the magnum power was to be realized, he understood and desperately wanted to understand the psychology of a buyer what a common American was ready to buy and put their, money into some buy for fun., some in need each to his own, some spend a lot of money online and some look for subsidized values. This was the ecosystem of eBay which connected with the common people If thirty years ago, you would think of buying a second-hand car, you would probably be a laughing stock this very value was diminished by eBay when of the seller put beautiful pictures of his car and it was sold who " clicked extraordinary photos and today every minute a car/ truck or a bike is sold

Challenges

Like every start-up story Pierre which starts from a domestic market to a functioning company with a vision one day, he might just be able to quit his day job He started eBay for free but the response of eBay. but it soon started costing him, he started running the business at home but it was quickly attracting him traffic and costing him real money it was then he decided to charge a nominal fee for listing the item The payments that he received were low for the first month and eventually, it started doubling he initially was getting paid $1000 much less than what the internet was costing him, then for the next month it was $3000 perpetually the revenues kept on doubling people were ready to buy, bid and auction. Pierre had a hobby for which he was getting paid, so finally, Pierre decided to make to quit his day job, the best part of his career was having a hobby that pays him well. Who would argue on that?

Failures

Ayden is a company based in Australia and has a better user experience, more classic and sophisticated the e-commerce industry is getting highly competitive Ayden provides 150 currencies and 200 methods of payments which will enhance the flexibility of transactions and improvise a new experience workshop for the customers and provide an excellent customer service eBay believed providing a customer good customer experience and optimum experience is the new benchmark in the eCommerce industry the PayPal dialogue For investors, eBay is growing sales at a much slower pace than the overall e-commerce market. E-commerce grew 14.3% year over year in the United States during the third quarter. eBay’s gross merchandise volume increased by just 3% in the U.S. during the same period. Over 12 million merchants use PayPal there’s a strong incentive for internet retailers to integrate the service into their mobile apps and websites. As a result, mobile payment volume increased by 45% for PayPal in the third quarter. As more and more e-commerce moves to mobile, PayPal is well-positioned more and better thanks to the success of One Touch it will help in the retailer’s checkout flow What’s more, once its operating agreement with eBay lapses, PayPal will have more opportunities to work with some of the top internet retailers. PayPal is confident it can win additional business it’s currently precluded from by its eBay agreement. PayPal’s results for other merchants are a strong indication it will be able to win some new business starting next year

Achievements

  • National Medal of Technology & Innovation.

Subsidies

  • mobile.de
  • GittiGiddior
  • GMarket
  • eBay Motors
  • StubHub
  • eBay Enterprise
  • Half.com

CEOs

  • Jamie Iannone
  • Scott Schenkel
  • Devin Wenig