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is an American Internet company that manages , an online auction and shopping website in which people and businesses buy and sell a broad variety of goods and services worldwide.
The majority of the sales take place through a set-time auction format, but subsequent methods include a substantial segment of listings in the "Buy It Now" category.
In addition to its original U.S. website, has established localized websites in thirty other countries.
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The online auction website was founded as AuctionWeb in San Jose, California, on September 3, 1995, by French-born Iranian computer programmer Pierre Omidyar as part of a larger personal site that included, among other things, Omidyar's own tongue-in-cheek tribute to the Ebola virus. In 1997, the company received approximately $5 million in funding from the venture capital firm Benchmark Capital.
The very first item sold on was a broken laser pointer for $14.83. Astonished, Omidyar contacted the winning bidder to ask if he understood that the laser pointer was broken. In his responding email, the buyer explained: "I'm a collector of broken laser pointers."
The frequently repeated story that was founded to help Omidyar's fiancée trade Pez Candy dispensers was fabricated by a public relations manager in 1997 to interest the media. This was revealed in Adam Cohen's 2002 book, The Perfect Store, and confirmed by eBay.
Chris Agarpao was hired as 's first employee and Jeffrey Skoll was hired as the first president of the company in early 1996. In November 1996, entered into its first third-party licensing deal, with a company called Electronic Travel Auction to use SmartMarket Technology to sell plane tickets and other travel products.
The company officially changed the name of its service from AuctionWeb to in September 1997. Originally, the site belonged to Echo Bay Technology Group, Omidyar's consulting firm. Omidyar had tried to register the domain name echobay.com, but found it already taken by the Echo Bay Mines, a gold mining company, so he shortened it to his second choice, eBay.com.
Meg Whitman was hired as President and CEO in March 1998. At the time, the company had 30 employees half a million users and revenues of $4.7 million in the United States.
went public on September 21, 1998, and both Omidyar and Skoll became instant billionaires. 's target share price of $18 was all but ignored as the price went to $53.50 on the first day of trading.
As the company expanded product categories beyond collectibles into almost any saleable item, business grew quickly. In February 2002, the company purchased IBazar, a similar European auction web site founded in 1995 and then bought PayPal on October 14, 2002.
In early 2008, the company had expanded worldwide, counted hundreds of millions of registered users, 15,000+ employees and revenues of almost $7.7 billion.
After nearly ten years at , Whitman made the decision to enter politics.
On January 23, 2008 the company announced that Whitman would step down on March 31, 2008 and John Donahoe was selected to become President and CEO. Whitman remained on the Board of Directors and continued to advise Donahoe through 2008. In late 2009, completed the sale of Skype for $2.75 Billion, but will still own 30% equity in the company.
Enjoy it, and Begin to Auction, Buy and Sell Just Now !
Manu Ginobili ~ ARG
& San Fransisco ~ USA
The Lord of the Rings !
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