Sunday, March 4, 2012

eBay


eBay

eBay Inc. EBay Logo.svg
Type    Public
Traded as         NASDAQ: EBAY
NASDAQ-100 Component
S&P 500 Component
Founded           September 3, 1995
Founder(s)      Pierre Omidyar
Headquarters               San Jose, California, U.S.
Area served    Worldwide
Key people      John Donahoe (CEO)
Pierre Omidyar (Chairman)
Industry             Internet, Online shopping
Products           eBayClassifieds, electronic commerce, Gumtree, Kijiji, online auction hosting, PayPal, shopping mall
Revenue           increase US$ 11.651 billion (2011)
Operating income     increase US$ 2.373 billion (2011)
Net income     increase US$ 3.229 billion (2011)
Total assets   increase US$ 27.320 billion (2011)
Total equity   increase US$ 17.929 billion (2011)
Employees      27,770 (2011)
Slogan              

"World's Online Marketplace."

"Connecting buyers and sellers globally."

"What ever it is, you can get it on eBay."

"Buy it, sell it, love it"
Website             eBay.com
IPv6 support No
Alexa rank       steady 20 (February 2012)[2]
Type of site     Online auction
Registration   Required to buy and sell
Available in    Multilingual

eBay Inc. (NASDAQ: EBAY) is an American internet consumer-to-consumer corporation that manages eBay.com, an online auction and shopping website in which people and businesses buy and sell a broad variety of goods and services worldwide. Founded in 1995, eBay is one of the notable success stories of the dot-com bubble; it is now a multi-billion dollar business with operations localized in over thirty countries.[3][4] eBay expanded from its original "set-time" auction format to include "Buy It Now" standard shopping; shopping by UPC, ISBN, or other kind of SKU (via Half.com); online classified advertisements (via Kijiji or eBay Classifieds); online event ticket trading (via StubHub); online money transfers (via PayPal[5]) and other services.

Origins and history

eBay headquarters in San Jose, California

The online auction website was founded as AuctionWeb in San Jose, California, on September 5, 1995, by French-born Iranian-American computer programmer Pierre Omidyar (born June 21, 1967) as part of a larger personal site that included, among other things, Omidyar's own tongue-in-cheek tribute to the Ebola virus.[6] One of the first items sold on eBay 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 eBay was founded to help Omidyar's fiancée trade Pez candy dispensers was fabricated by a public relations manager in 1997 to interest the media, which were not interested in the company's previous explanation about wanting to create a "perfect market".This was revealed in Adam Cohen's 2002 book, The Perfect Store, and confirmed by eBay.

Chris Agarpao was hired as eBay's first employee and Jeffrey Skoll was hired as the first president of the company in early 1996. In November 1996, eBay 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. Growth was phenomenal; in January 1997 the site hosted 2,000,000 auctions, compared with 250,000 during the whole of 1996. The company officially changed the name of its service from AuctionWeb to eBay 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.

In 1997, the company received $6.7 million in funding from the venture capital firm Benchmark Capital.

Meg Whitman was hired as eBay President and CEO in March 1998. At the time, the company had 30 employees,[13] half a million users and revenues of $4.7 million in the United States.eBay went public on September 21, 1998, and both Omidyar and Skoll became instant billionaires. eBay'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 1993 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 eBay, 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, eBay completed the sale of Skype for $2.75 billion, but will still own 30% equity in the company.

In July 2010, eBay was sued for $3.8 billion by XPRT Ventures that accused eBay of stealing information shared in confidence by the inventors on XPRT's own patents, and incorporated it into features in its own payment systems, such as PayPal Pay Later and PayPal Buyer Credit.

On December 20, 2010, eBay announced its acquisition of a German online shopping club, brands4friends.de, for €150 million ($197 million) to strengthen the company's interests in the fashion industry in Europe. It is subject to regulatory approval and expected to close it in the Q1 2011.

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