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Concept
EBay
Summary
eBay Inc. (ˈiːbeɪ , often stylized as ebay) is an American multinational e-commerce company 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, The company manages the eBay website, an online auction and shopping website in which people and businesses buy and sell a wide variety of goods and services worldwide. The website is free to use for buyers, but sellers are charged fees for listing items after a limited number of free listings, and an additional or separate fee when those items are sold.
In addition to eBay's original auction-style sales, the website has evolved and expanded to include: instant "Buy It Now" shopping; shopping by Universal Product Code, ISBN, or other kind of SKU number (via Half.com, which was shut down in 2017); and other services. eBay previously offered online money transfers as part of its services (via PayPal, which was a wholly owned subsidiary of eBay from 2002 to 2015); online classified advertisements (via Kijiji, or eBay Classifieds Group); and online event ticket trading (via StubHub). On July 25, 2018, eBay announced a new partnership with PayPal's rivals Apple and Square in place of its longtime payment partner PayPal.
AuctionWeb was founded in California on September 3, 1995, by French-born Iranian-American computer programmer Pierre Omidyar as part of a larger personal site. One of the first items sold on AuctionWeb 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; the buyer explained: "I'm a collector of broken laser pointers." It soon became the first online auction site allowing person-to-person transactions, and its popularity boomed.
Reportedly, eBay was simply a hobby for Omidyar until his Internet service provider informed him he would need to upgrade to a business account due to his high website traffic.
Official source
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