History Of Ebay, By Pierre Omidyar Essay

History Of Ebay, By Pierre Omidyar Essay

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EBay was founded by Pierre Omidyar in 1995. The purpose of Auction Web, now name eBay, was to sale online goods for individual buyers and sellers. Mr. Omidyar also wanted for people to be able to interact about the products just like you would in a regular store. After spending the weekend writing codes on his personal computer, Mr. Omidyar launches the website, the site was “dedicated to bringing together buyers and sellers in an honest and open marketplace”(EBay Inc, 2013) . By July 1996, Mr. Omidyar quits his job to be dedicated full time to his auction website. He then brought Jeff Skoll as president of the company. By September of 1997 the company was renamed from Auction Web to its official name EBay.
In 1998, Pierre and Skoll brought in Meg Whitman who had study in Harvard and had knowledge of the importance of branding. Meg gather staff from different companies, such as Disney to come up with a plan that would build a strong vision for the company. EBay then became partners with name brands such as GM, Disney and Sun, companies that sold $10 million worth of equipment. EBay started to earn its revenue from charging sellers a fee to list their items on the website, and from collecting a commission from the sales that were made. In 2008, John Donahoe replaced Meg Whitman and was named CEO. He then started to refocus the company to becoming the premiere online partner for retail store. With the current vision of “empower consumers to buy and sell anything, anytime, anywhere” (EBay Inc., 2013). With the leadership of Mr. Donahoe, he have helped to better position the company for a long-term stability.

With eBay position in a long-term stability Mr. Donahoe was able to provide new business ...

... middle of paper ...

...etition from Amazon. Amazon is big since its eBay biggest competition right now since is right behind in profits. Therefore, more internet competitors we have the more threats we have in losing customers and revenue.
Online security is a big threat, online identity theft has been growing as technology increase. EBay in partner with PayPal must continue to keep a software that would keep hackers away from the system. Since this system have bank, credit cards and debit card information. Just as like is great to have international sells. It also have its threats, eBay receive some of its income from foreign operations. The money is then send back to the United States to be converted into dollars and it could be affected by the exchange rate. If the currency change the dollar value change as well. Which it an affect the company because they can lose money.

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