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eBay was created in September 1995, by a man called Pierre Omidyar, who was
living in San Jose. He wanted his site (then called "AuctionWeb") to be an online
marketplace, and wrote the first code for it as a weekend project. It was one of the
first websites of its kind in the world. The name "eBay" comes from the domain
Omidyar used for his site. His company's name was Echo Bay, and the "eBay
AuctionWeb" was originally just one part of Echo Bay's website at ebay.com. The first
thing ever sold on the site was Omidyar's broken laser pointer, which he got $14 for.
The site quickly became massively popular, as sellers came to list all sorts of odd
things and buyers actually bought them. Relying on trust seemed to work remarkably
well, and meant that the site could almost be left alone to run itself. The site had
been designed from the start to collect a small fee on each sale, and it was this
money that Omidyar used to pay for AuctionWeb's expansion. The fees quickly added
up to more than his current salary, and 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.
(article continued below)
living in San Jose. He wanted his site (then called "AuctionWeb") to be an online
marketplace, and wrote the first code for it as a weekend project. It was one of the
first websites of its kind in the world. The name "eBay" comes from the domain
Omidyar used for his site. His company's name was Echo Bay, and the "eBay
AuctionWeb" was originally just one part of Echo Bay's website at ebay.com. The first
thing ever sold on the site was Omidyar's broken laser pointer, which he got $14 for.
The site quickly became massively popular, as sellers came to list all sorts of odd
things and buyers actually bought them. Relying on trust seemed to work remarkably
well, and meant that the site could almost be left alone to run itself. The site had
been designed from the start to collect a small fee on each sale, and it was this
money that Omidyar used to pay for AuctionWeb's expansion. The fees quickly added
up to more than his current salary, and 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.
(article continued below)
A Brief History of Ebay
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In 1997, Omidyar changed AuctionWeb's name to "eBay", which is what people had
been calling the site for a long time. He began to spend a lot of money on
advertising, and had the eBay logo designed. It was in this year that the one-millionth
item was sold (it was a toy version of Big Bird from Sesame Street).
Then, in 1998 at the peak of the dotcom boom, eBay became big business. The
investment in Internet businesses at the time allowed it to bring in senior managers
and business strategists, who took in public on the stock market. It started to
encourage people to sell more than just collectibles, and quickly became a massive
site where you could sell anything, large or small.
1999 saw eBay go worldwide, launching sites 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 - and bought PayPal, an online payment service, in 2002.
There are now literally millions of items bought and sold every day on eBay, all over
the world. For every $100 spent online worldwide, it is estimated that $14 is spent on
eBay - that's a lot of laser pointers.
been calling the site for a long time. He began to spend a lot of money on
advertising, and had the eBay logo designed. It was in this year that the one-millionth
item was sold (it was a toy version of Big Bird from Sesame Street).
Then, in 1998 at the peak of the dotcom boom, eBay became big business. The
investment in Internet businesses at the time allowed it to bring in senior managers
and business strategists, who took in public on the stock market. It started to
encourage people to sell more than just collectibles, and quickly became a massive
site where you could sell anything, large or small.
1999 saw eBay go worldwide, launching sites 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 - and bought PayPal, an online payment service, in 2002.
There are now literally millions of items bought and sold every day on eBay, all over
the world. For every $100 spent online worldwide, it is estimated that $14 is spent on
eBay - that's a lot of laser pointers.
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