eBay is a well-known worldwide enterprise that offers business-to-consumer as well as consumer-to-consumer sales. In a historic period of 1994 to 2000, eBay became very popular due to its massive growth in the use and adoption of the Internet. According to the statistical reports of the year 2011, this multinational eCommerce company has increased its operations in approximately 30 countries. It manages a shopping website where people sell and buy a large variety of goods as well as services. The shopping website of eBay is free to use for people who buy products and services online through it.
The history of eBayAn American Billionaire Entrepreneur, Pierre Omidyar, laid the foundation of eBay back in the year 1995. He served in this multibillion-dollar business as a Chairman from 1998 to 2015. On September 3, 1995, he also started an Auction Web on eBay. This auction web sold a broken laser pointer for the first time for 14.83 US Dollars to a person who was fond of collecting broken laser pointers. This sale of auction web became so popular that it became the first online auction website that allows online transactions between one person to another person. From the year 2002 to 2015, eBay owned an American company of online payment system, PayPal, for offering online money transfers as part of its services.
Who actually uses eBayOne of the largest shopping websites is used by both companies and end-users such - bargain hunters, collectors, resellers and more.
How does eBay make a profit?eBay is an online marketplace that buys and sell electronics, cars, collectibles, clothes and much more throughout the world. It displays all the merchandise in one place. It generates revenue through its content. For example, through its system of fees for providing the services and against the sales that the sellers on eBay generate. Moreover, it also earns revenue by listing product features. eBay provides a limited number of free listings to the sellers. But after this limited offer of free listings, the sellers have to pay some fees to eBay. They are also charged when they sell their products or services.
Interesting Facts about eBay
- eBay was first known as an Auction Web and its logo was called the "Death Bar".
- The headquarters of eBay have names similar to their categories.
- In 2008, an eBay seller, Jack Sheng, received one million feedback score.