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History

1990s

AuctionWeb was founded on September 3, 1995 in California by Pierre Omidyar, a French-born  Iranian-American  computer programmer  . [7]  The first item sold on AuctionWeb was a damaged laser pointer for $14.83. To my surprise, Omidyar contacted the winning bidder to ask if he understood the laser pointer was broken. The buyer explains: "I'm a collector of broken laser pointers." [8] [9] It soon became the first online auction site to allow  person-to-person  transactions, and its popularity skyrocketed.[10]

eBay was reportedly a hobby for Omidyar until his internet service provider informed him that he needed to upgrade to a business account due to his high website traffic. A monthly price increase of $30 to $250 prompted eBay users who continued to use the site to start charging. Chris Agarpao was eBay's first employee. Payments were made by check. [11] eBay

Jeffrey Skoll  was named the company's first new president in early 1996. In November 1996,  the E-Commerce platform  entered into its first third-party license agreement using SmartMarket Technology to sell aircraft. Tickets and other travel products. The growth was phenomenal: from 1996 to 200,000 auctions in January 1997 alone. [12] [7] [ Verification Required ]

The company officially changed the name of its service from AuctionWeb to eBay in September 1997, after Omidyar's consulting firm Echo Bay Technology Group. The domain name  echobay.com  has been taken over by a gold mining company. [13]  So Omidyar shortened it to eBay.com. [14] In 1997, the company received $6.7 million in funding from  venture capital firm  Benchmark Capital . [15]

An oft-repeated story by eBay to help Omidyar's fiance Pez  candy dispensers  was created in 1997 by public relations  manager  Mary Lou Song  to give the media a more human-interest story than Omidyar's original vision of the " perfect market ." [16] [7]  The Pez dispenser legend generated enormous publicity and caused an early explosion among toy collectors.

Ty, Inc., a leader in the toy category.  Beanie Babies,  produced by ,  have become the hardest to find toys in retail stores. While international collectors were trying to complete their Beanie Babies collection, Ty founded the first business-to-consumer website, a secondary market online trading post where people could trade their Beanie Babies. However, It was flooded with unsortable listings and created an urgent demand for a more efficient online trading system. [17] [18]  Beanie Babies became the dominant product on eBay in 1997, accounting for 10% of all listings.

Meg Whitman with eBay president in March 1998  He was hired by the board as CEO . At the time, the company had 30 employees, half a million users  and $4.7 million in U.S. revenue. [20]

On September 21, 1998, eBay became available to the public. [21] In 1998In the risk factors section of the annual report filed with the US Securities and Exchange Commission,  Omidyar noted eBay's reliance on the continued strength of the Beanie Babies market. [17] [22]  After eBay went public, Both Omidyar and Skoll became instant billionaires: eBay's target of $18 per share was ignored as the price rose to $53.50 on the first day of trading. [23]

2000s [ edit ]

The business grew rapidly as the company expanded from collectibles to anything salable. [8]  By 2000, eBay had 12 million registered users and cyberlists of over 4.5 million items for sale on any given day. [24] Which eBay in 2001?  It was the largest userbase of the e-commerce site. [10]  In February 2002, the company acquired iBazar, a similar European auction website founded in 1998, and on October 3, 2002, PayPal .was  purchased  . [26]

By early 2008, the company had expanded worldwide, counting hundreds of millions of registered users as well as 15,000 employees and nearly $7.7 billion in revenue. After nearly ten years at eBay, Whitman decided to enter politics. On January 23, 2008, the company announced that Whitman would step down effective March 31, 2008, and   named John Donahoe as president and CEO. [27] Whitman remained on the board of directors and continued to advise Donahoe until 2008. In late 2009, eBayAlthough the sale of Skype was completed for $2.75 billion, he still owns a 30% stake in the company. [28]

2010s [ edit ]

 In 2012, the US Department of  Justice sued eBay over non-solicitation agreements with other technology companies involving their professional employees. [29]

September 30 In 2014, eBay would spin off PayPal into a separate publicly traded company, as activist hedge fund magnate Carl Icahn had claimed nine months earlier. The turnaround is July 18; It ended in 2015. John Donahoe, eBay's chief executive, has stepped down from that position. [30] [31] [32]  Flipkart and eBay entered into a strategic partnership in 2017, with eBay Inc exchanging a 5.44% stake in its eBay India business for $211 million and a cash investment of $514 million. As part of the partnership, Flipkart has decided to use the eBay platform for global outsourcing. [33]

On January 31, 2018, eBay announced that it would replace PayPal as its primary payment service provider with Netherlands-based start-up Adyen. The move is set to be completed by 2021, but PayPal will remain an accepted payment option on the site until further notice. [34]

 On September 21, 2018, eBay will reportedly install a security fence around its San Jose headquarters in response to the  shooting at YouTube headquarters earlier this year. [35]

July 31st In 2019, the company acquired a 5.59 percent stake in Paytm Mall. [36]

On September 25, 2019,  it was announced that Devin Wenig would be stepping down as CEO of eBay, and Scott Schenkel, senior vice president and chief financial officer since 2015, had been named interim CEO.[37]

2020s [ edit ]

On April 13, 2020,  it was announced that Jamie Iannone would become CEO on April 27.  [38]  On June 15, 2020, eBay announced that five employees had been terminated in September after notifying law enforcement in August, [ 39] some of the fired employees on charges of possible criminal harassment of journalists; [40] [41] [42]  Six former employees were charged with aggravated cyberstalking. [43]

In July 2020, Adevinta Announces Acquisition of eBay Classifieds Group. [44]  On June 25, the deal was closed. [45]