Rumored Buzz on eBay - News and information - Ecommerce News - Europe

com was currently taken by a gold mining business, so Omidyar shortened it to e, Bay. com. In amazon fba got $6. 7 million in funding from the venture capital firm Standard Capital. The frequently duplicated story that e, Bay was established to help Omidyar's fiance trade Pez candy dispensers was made in 1997 by public relations manager Mary Lou Song to give the media a human-interest story more appealing than Omidyar's original vision of a "best market". The Pez dispenser myth generated huge promotion and led to explosive early development among toy collectors. The leader in the toy category quickly became Beanie Babies produced by Ty, Inc., the most challenging toys to find in retail shops.

However, it was overwhelmed with unsortable listings, creating an immediate need for a more effective online trading system. Beanie Infants quickly became the dominant item on e, Bay, representing 10% of all listings in 1997, as collectors thronged e, Bay's easy to use user interface to look for particular Beanie Babies. Meg Whitman was hired by the board as e, Bay president and CEO in March 1998. At the time, the company had 30 employees, half a million users and revenues of $4. 7 million in the United States. On September 21, 1998, e, Bay went public. In the threat elements area of the yearly report filed with the United States Securities and Exchange Commission in 1998, Omidyar keeps in mind e, Bay's reliance on the ongoing strength of the Beanie Babies market.

50 on the very first day of trading. As the company broadened item categories beyond antiques into nearly any saleable product, organization grew rapidly. In 2000, e, Bay had 12 million registered users and a cyberinventory of more than 4. 5 million items on sale on any provided day. In 2001, e, Bay had the largest userbase of any e-commerce site. In February 2002 the business acquired i, Bazar, a similar European auction web website founded in 1998, and then purchased Pay, Friend on October 3, 2002. By early 2008 the company had broadened worldwide, counting hundreds of countless registered users as well as 15,000 staff members and profits of practically $7.

has not yet selected any galleries for this topic.