EBay was created in September 1995 by Pierre Omidyar. EBay, an online marketplace, was one of the first websites of its kind in the world. The site was originally named AuctionWeb. The name ‘eBay’ came from the domain Omidyar used for his site. His company’s name was Echo Bay. The first thing ever sold on eBay was Omidyar’s broken laser pointer for $ 14.
EBay became massively popular rather quickly. Sellers began listing all sorts of odd things and buyers actually bought them. The site could almost be left alone to run itself. EBay had been designed from the start to collect a small fee on each sale. The fees quickly added up to more than Omidyar’s current salary, so he decided to quit his job and work on the site full-time. It was at this point, in 1996, that he added the feedback facilities, to let buyers and sellers rate each other and make buying and selling safer.
In 1997, Omidyar changed AuctionWeb’s name to eBay and the one-millionth item was sold. He spent a lot of money on advertising and had the eBay logo designed.
EBay became a massive site with people selling more than just collectibles. You could sell anything, large or small. In 1998 eBay became big business.
In 1999 eBay went worldwide. Sites were launched in the UK, Australia and Germany. eBay bought half.com, an Amazon-like online retailer, in the year 2000. The same year it introduced Buy it Now. It bought PayPal in 2002.
Pierre Omidyar, who still serves as Chairman of the Board, has now earned an estimated $ 3 billion from eBay. All over the world, millions of items are bought and sold every day on eBay. It is estimated that $ 14 is spent on eBay for every $ 100 spent online worldwide.
Now that you know the history of eBay, perhaps you’d like to know how it could work for you? People are making great money from eBay. It isn’t unusual to hear of people making thousands of dollars per month. Even if you don’t want to quit your job and really go for it, you can still use eBay to make a significant second income.
Remember, there is always someone who wants what you’re selling. Since they come to you, you don’t even need to do anything to get them to buy it. If you can post things, you can do it. EBay tears down the barriers that the real world constantly puts up. EBay does not care who you are, where you live, or what you look like. You can forget the job interview and forget the commute.