History of eBay

history of ebay

The History of eBay

The history of eBay begins in the year 1995. eBay was founded as peer to peer marketplace. It is still meant for individuals to sell their unwanted stuff on this platform. The founders of Pierre and Jeff Skoll founder funding from Meg Whitman in order to grow the business. Meg Whitman had studied in Harvard business school. He had worked in the branding department at companies such as Hasbro.
Meg Whitman later became the Chief Executive Officer of eBay.  Meg attracted senior stuff from large companies such as Pepsico and Disney. His management team was very experienced. Some of his managers had 20 years of experience.

History of eBay business model

eBay has built an online person-to-person trading community on the Internet, using the World Wide Web. Buyers and sellers are brought together in a manner where sellers are permitted to list items for sale, buyers to bid on items of interest and all eBay users to browse through listed items in a fully automated way. The items are arranged by topics, where each type of auction has its own category.
Ebay’s has taken over garage sales and has made person to person trading the mainstream. You can imagine eBay as a form of a garage sale, flea market or auction. Their web interface has created a unique business model unlike any other. The system enables the sellers to immediately list an item for sale in a couple of minutes. The item can be listed as a classified item or it can be listed for auction.

History of eBay sales

EBay’s revenue as of 2017 had grown to 9 billion dollars. eBay generates revenue by charging sellers fees to list on their platform. eBay charges from 10 cents to 2 dollars per item listed on their platform. This makes them a unique e-commerce platform.