| Who does not know about eBay nowadays? This | | | | the targeted per share price of $18, eBay's revenue |
| worldwide phenomenon has grown to be the world's | | | | growth has followed the uptrend for years. Needless |
| largest online marketplace chalking up millions in | | | | to say, Omidyar and Skoll became billionaires in a |
| transactions in various currencies worldwide on a daily | | | | snap. As the new president and CEO, Harvard |
| basis. eBay is a place to buy and sell just about | | | | graduate Meg Whitman has steered eBay in to |
| anything in the internet, in just about anywhere | | | | steady growth and business expansion through the |
| around the globe. Any business in this magnitude, | | | | years. Despite a slowdown in growth in recent years, |
| most would think, would probably have necessitated | | | | eBay still continues to enjoy a decent amount in |
| a huge amount of capitalization. Not quite for | | | | revenues. |
| eBay.eBay started out in 1995 as AuctionWeb, a part | | | | This $45 billion company now has websites in some |
| of the personal site of 28-year old French-Iranian | | | | 27 countries although it services wholesale and retail |
| computer programmer Pierre Omidyar. What is odd is | | | | transactions all over the globe. It boasts of an |
| that this worldwide phenomenon was actually | | | | extensive collection of items for sale in almost any |
| propelled by the sale of a broken laser pointer. As far | | | | condition you can think of. From the usual everyday |
| as stories go, the broken laser pointer was auctioned | | | | items like clothes and shoes to mundane items like a |
| off and sold for $14.83 to a collector. | | | | cooked but uneaten piece of brussel sprout, to |
| In 1996, Stanford MBA degree-holder Jeffrey Skoll | | | | fame-linked items like leftover water from Elvis |
| assumed position as the first president of | | | | Presley - eBay has items of every size, shape and |
| AuctionWeb. It was also during this year when | | | | category.eBay continues to grow today with CEO |
| AuctionWeb inked its first partnership deal with a | | | | Whitman still at the helm. Community content |
| company called Electronic Travel Auction to sell | | | | features have been enhanced on eBay with the |
| travel-related products including plane tickets through | | | | addition of eBay Community Wiki and eBay blogs to |
| the SmartMarket Technology. | | | | its standard sections like discussion boards, groups, |
| A year after, the site was renamed to eBay which | | | | answer center, chat rooms etc. Mobile services like |
| was short for Omidyar's consulting firm Echo Bay | | | | SMS alerts, WAP access and J2ME clients are also |
| Technology Group. Media interest was generated by | | | | made available in a number of territories. eBay's |
| a fabricated story that the site was created to help | | | | business has also expanded from wholesale and retail |
| Omidyar's fiancé sell Pez candy dispensers. | | | | sales into allied businesses like online payment |
| Much promise was seen in the auction site that | | | | systems, internet protocol systems, classifieds and |
| prompted venture capital firm Benchmark Capital to | | | | real estate. eBay's most recent acquisitions include |
| invest some $5 million in eBay. | | | | Skype, PayPal, Craiglist, Half.com, Rent.com, and |
| The year 1998 marked another milestone for | | | | Prostores. These businesses certainly provides eBay |
| Omidyar as eBay went public. When the initial public | | | | the support it needs to spur further business growth. |
| offering opened at $53.50 per share as opposed to | | | | |