Pierre Omidyar created EBay on September 1995. This 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. It sold for $14.
Rather quickly EBay became incredibly popular. Sellers began listing all sorts of odd things and buyers actually bought them. The site almost ran 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. 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. He spent a lot of money on advertising and had the eBay logo designed. It was in this year that the one-millionth item was sold.
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 has earned an estimated $3 billion from eBay and still serves as Chairman of the Board. 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, are you wondering if eBay could be the right business opportunity for you? People all over the world are making great money from eBay. Many people are 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 good second income.
EBay doesn’t care who you are, where you live, or what you look like. EBay tears down the barriers to earning that the real world constantly puts up. Forget the job interview and forget the commute. If you can post things, you can do it. There is always someone who wants what you’re selling, and since they have come looking for you, you don’t even need to do anything to get them to buy it.