November 22, 2019
How Ebay Started

How Ebay Started

eBay was founded in 1995 in San
Jose, California as AuctionWeb, an online auction site
created by Pierre Omidyar. The first item AuctionWeb sold was actually a broken laser
pointer that was less than 15 bucks. The site quickly became a huge hit, and in 1996 Jeffrey
Skoll came on board, and they were doing around
250,000 auctions per year. but then by the middle of 1997, the site was
already hosting around 800,000 actions per day. That same year Omidyar
changed the name to eBay, after figuring out that the
initial choice of ecobay was actually already taken
by a Canadian mining company. An alternative creation
story came out in 1997, that claimed that eBay was
created so that Omidyar’s wife could trade pez dispenseres
with other people. In 2002 it came to light
that this story was untrue and fabricated by the company’s PR team, and the initial idea was to create a platform
for peer-to-peer trading of collectible items. This is similar to how netflix
fabricated their startup story for their own PR usage and so that
they can really relate to their customers. By 1998, ebay went public, surpassing their $18 stock
price to a whopping $53, and of course making Omidyar and
Skoll multi multi millionaires. And in 1999, eBay expanded to reach Germany, Australia and the UK. Nowadays, eBay is available
in over 200 countries. And in 2002 eBay purchased Paypal, to secure hassle-free
payments to their customers and in that same year Fortune marked as the
8th fastest growing company in the world. As of 2019, eBay is still considered one of
the biggest eCommerce platforms in the world As they’re doing about
$10Million in annual revenue. And ebay sell some weird stuff
from broken laser pointers to a $168Million Megayacht which is still today the most
expensive item ever sold on ebay. The company has been well known for
offering women equal opportunities, and that was shown in 1998 by
appointing their new CEO Meg Whittman, and always ensuring women earn 100%
as much as men in the same role. Ebay’s expansion around the world is
the reason why it continues to grow. and the number 1 contry
on the platform is the UK, with over 19Million visitors every month, and at any given time ebay has
over 800 million items listed. at 2019 eBay is valued at
more than $40 billion dollars. And that’s how eBay started! Thank you for watching my
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