History of Ebay

Ebay originally began as a very different site from the one that evolved over the years. It began as a site that encompassed the interests of the founder of the site, Pierre Omidyar. The software developer created the site in 1995 as a place to house both information about his consulting business and various other topics that he was interested in.

History

The site had several distinct sections when it was first created. One section was dedicated to Omidyar's consulting firm, Echo Bay. Another was dedicated to the rising threat of the Ebola virus in Africa. Still another section was a place where Omidyar put together as an experiment in online auctions. The first item he auctioned was a test item, a broken laser pointer, but it sold. That convinced him that the online auction format could be successful.

Identification

AuctionWeb was the original name of the site, and it immediately popular. At first the service was free to anyone who wanted to list or buy items for sale. After a few thousands people joined the site, Omidyar began to see the monetary and business possibilities in the site. He soon began hiring employees to help him run the site and set up the needed infrastructure that the growing site needed. In 1997 he changed the name of AuctionWeb to eBay.

Time Frame

The first two years of the business saw quick growth of the site and the need for even more employees. By 1998, the site had 30 employees and needed a new CEO who could bring more business knowledge to the company. A new CEO, Meg Whitman, was hired that year. She stayed on as the company's CEO until March of 2008 when John Donahoe took the position. When Whitman left her position, the company had grown from 30 employees to more than 15,000.

Features

Ebay began with only one format for sales, the auction. But as time progressed, more formats and options were added. First, sellers were given the option of offering a "Buy It Now" price that could end the auction early. Then, sellers were given the option to list their items for a fixed price instead of auctioning them. Sellers can now list items as an auction, at a fixed price or as an eBay Store listing.

Benefits

The site has made both buying and selling easier for millions of people. The annual trips to the mall for Christmas shopping have been replaced by searching through eBay for many people. It has made it easier to find hard-to-find and rare items that aren't often found in stores. It has also provided a way for millions of people to work from home selling items through the site. Thousands of people now work from home selling on the site full time.