" i STARTED eBay as an experiment, as a side hobby
basically, while i had my day job."
Founder and Chairman of eBAy- Pierre Omidyar~~
ebay is the world largest online auction sites with a global customer base of 233 million in which people and businesses trade the million item worldwide, national or local basis. eBay is found by Pierre Omidyar in 1995.Pierre Omidyar knew that people need a central location to buy and sells all kinds of item and to meet others with similar interest. eBay has created for the sale of good and services in the world wide web by the intensity community of an individual or small businesses. In year 1998, Pierre and his cofounder Jeff Skoll has brought Meg Whitman to sustain the business. Meg had created an experienced management team and build a strong vision for eBay that eBay is a company that’s running a business that connecting people to trade and not selling items to them.
“create an efficient market where individuals could benefit from participating in an efficient market, kind of level the playing field”- Pierre Omidyar
Internet businesses to be successful, the main things that need to consider that internet business would require an easy URL to remember. The users will more likely to visit a more memorable site such as eBay. eBay also provide shopping cart to convenient their customers. eBay is convenient online trading website for the buyers and sellers. The sellers are permitted to list their items for sales on the website and advertise it with a picture and descriptions to a world wide audience. Moreover the buyers can ask or order on the specific items which they are interested in. All the eBay users can browse through the listed items in a fully automated way. These items are grouped according with each type of auctions which has its own category.
eBay has the ability to remodel those primarily local market into global ones with a low cost. Human always has the need or interest on buying or selling the used, surplus or collectible items. Previously, they have to buy through some garage sales or advertisement in the newspaper.
eBay has growth by bringing in a large numbers of buyers and sellers. The more buyers there are, the more sellers were liked to participate. The more sellers they are, the more items to buy, so its will attract more buyers.
eBay give many people a chance to start their small business with small amount of capital and without paying the rent for the property, utility bills and so on. During the recession time, many people were interested to sell things in eBay. Some were interested in purchasing used item. Besides that, company also interest in buying some industrial items online at steep discount to formal channels.
eBay earn the money through the listing fees and collecting a percentage
of the selling price of items sold through the site. EBay also owns
PayPal, which allow the user to make their payment online and
makes money from the transaction fees.
eBay has growth potentially by successfully introduce the new markets such as car sales which will not expect to be run on this business model. Even though only a small percentage of world’s population was the users of ebay. Lastly ebay has really listen to the customers and its ability to respond quickly when competitive threats come along. eBay has managed to receive the feedback from the customers and bring innovations to eBay. That’s why eBay has successfully accumulated a large number of sellers and buyers in a single marketplace.
For my own opinion, i feel that ebay is really useful for the sellers and buyers also, so that it get many support from the public. It really benefit the users and help the users to be success. Pierre Omidyar and his partner are really intelligent person who create this way to help people around to reach their dream. Even for me who is just a under-graduate student also can made my own business through ebay.
“ Having millions of buyers and sellers who can make adjustments far faster than any company could is a huge advantage” – Meg Whitman
http://knowledge.wharton.upenn.edu/index.cfm?fa=viewArticle&id=539
http://www.cs.brandeis.edu/~magnus/ief248a/eBay/history.html
http://www.associatedcontent.com/article/18371/why_is_ebay_so_successful.html
http://answers.google.com/answers/threadview?id=345309
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