Ebay: The Game Changer

EBay started in 1995 under the name Auction Web.  By 1996, Auction Web had a gross merchandise volume of $7.2 million and 41,000 registered user. In 1997, Auction Web officially changed its name to EBay and the EBay craze began.  As of 2010 (the most recent numbers), EBay has 94.5 million users and a gross merchandise volume of $62 billion. In the last 15 years, EBay has become the leader in internet “shopping” due to its innovation and savvy business moves.

From the days of Auction Web to now, EBay has never stopped striving to be better. They have been able to find the perfect additions to the site that will make it easier to use for the customers. They have never forgot the customers. In 1997, EBay introduced “feedback”; the five star system used to rate sellers. In 2000, the “Buy It Now” option was introduced and in 2006, EBay introduced Pay Pal to increase the security of whom? It’s customers of course! EBay always has the customer experience at the for front of their decisions which is how it should be because who else will increase revenue?

In addition to putting the customer first, EBay has never lost sight of growing the business. They have expanded their business by acquiring other innovative businesses that are helpful to EBay itself. In its 17 years of existence, EBay has acquired stubHub, Shopping.com, Half.com, Brands4friends, Bill Me Later and a few others.  These businesses have always brought something to the table for EBay. Half.com is a book selling site which is a large part of EBay (textbooks anyone?).  Bill Me Later is the newest add on. It lets the customer be…. Billed later! By growing their business and always caring for its customers, EBay has been able to stay at the for front of internet shopping. Who knows what they will be able to accomplish in the next 15 years.

All statistics and facts are from:

“History – eBay Inc..” eBay Inc. – eBay Inc.. N.p, n.d. Web. 24 Apr. 2012. <http://www.ebayinc.com/history>.