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Reportedly, e Bay was simply a side hobby for Omidyar until his Internet service provider informed him he would need to upgrade to a business account due to the high volume of traffic to his website.
In November 1996, e Bay entered into its first third-party licensing deal, with a company called Electronic Travel Auction to use Smart Market Technology to sell plane tickets and other travel products.In addition to its auction-style sales, the website has since expanded to include "Buy It Now" shopping; shopping by UPC, ISBN, or other kind of SKU (via Half.com); online classified advertisements (via Kijiji or e Bay Classifieds); online event ticket trading (via Stub Hub); and other services.It previously offered online money transfers (via Pay Pal), One of the first items sold on Auction Web was a broken laser pointer for $14.83.Astonished, Omidyar contacted the winning bidder to ask if he understood that the laser pointer was broken.In his responding email, the buyer explained: "I'm a collector of broken laser pointers." The frequently repeated story that e Bay was founded to help Omidyar's fiancée trade Pez candy dispensers was fabricated by a public relations manager in 1997 to interest the media, which were not interested in the company's previous explanation about wanting to create a "perfect market"."World's Online Marketplace." "Connecting buyers and sellers globally." "Whatever it is, you can get it on e Bay." "Buy it, sell it, love it" "Buy it New, Buy it Now" "When it's on your mind, it's on e Bay" e Bay Inc.
(stylized as ebay since late 2012; eba Y prior) is an American multinational corporation and e-commerce company, providing consumer-to-consumer and business-to-consumer sales services via the internet. e Bay was founded by Pierre Omidyar in 1995, and became a notable success story of the dot-com bubble.
Today it is a multibillion-dollar business with operations localized in over 30 countries.
The company manages e Bay.com, an online auction and shopping website in which people and businesses buy and sell a broad variety of goods and services worldwide.
Growth was phenomenal; in January 1997 the site hosted 2,000,000 auctions, compared with 250,000 during the whole of 1996.
The company officially changed the name of its service from Auction Web to e Bay in September 1997.
Originally, the site belonged to Echo Bay Technology Group, Omidyar's consulting firm.