EBay
eBay Inc. is an American multinational e-commerce corporation based in San Jose, California, that facilitates consumer-to-consumer and business-to-consumer sales through its website. eBay was founded by Pierre Omidyar in 1995, and became a notable success story of the dot-com bubble. eBay is a multibillion-dollar business with operations in about 32 countries, as of 2019.
History[edit | edit source]
The company started as a sole proprietorship, and its first sale was a broken laser pointer. This event highlighted the unique market eBay provided, where even items that were considered worthless could find a buyer. The site quickly became popular, allowing individuals and businesses to sell items through online auctions. Over the years, eBay has expanded its services to include Buy It Now shopping, shopping by UPC, ISBN, and other kinds of SKU numbers, online classified advertisements via Kijiji or eBay Classifieds, online event ticket trading (StubHub), and other services.
Business Model[edit | edit source]
eBay's business model includes charging fees for sellers to list items and taking a commission on sales. The company offers various platforms for the sale of goods and services, including the traditional auction-style sale and the newer fixed-price listings. eBay's marketplace is accessible through its website and mobile apps, catering to a wide range of buyers and sellers worldwide.
Acquisitions and Expansions[edit | edit source]
Over the years, eBay has made several strategic acquisitions to expand its portfolio and enhance its service offerings. Notable acquisitions include PayPal, a global payment platform, in 2002 (which was later spun off into a separate company in 2015), Skype, a telecommunications company, in 2005 (which was sold to Microsoft in 2011), and GittiGidiyor, a leading e-commerce site in Turkey. These acquisitions have allowed eBay to offer a more comprehensive suite of services to its users and expand its global reach.
Controversies and Challenges[edit | edit source]
Like many large online platforms, eBay has faced its share of controversies and challenges, including issues related to fraud, counterfeit goods, and the sale of illegal items. The company has implemented various measures to combat these issues, such as user verification processes, enhanced security measures, and a comprehensive system of buyer and seller feedback.
Impact and Legacy[edit | edit source]
eBay has had a significant impact on the e-commerce industry and the way people shop and sell goods online. Its innovative platform has enabled millions of individuals and businesses to access a global marketplace, transforming the retail landscape. eBay's success has inspired a wave of similar online marketplaces and contributed to the growth of the digital economy.
See Also[edit | edit source]
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