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Entrepreneur's Handbook

The Story of eBay, which Started with a $ 14 Broken Laser Sale

eBay was introduced before the use of the "World Wide Web" was just widespread. Pierre Omidyar, 28, the founder of eBay, was working with Apple for software called Claris. In 1995 Omidyar opened a site called AuctionWeb to gather collectors together. It was the first name considered for eBay. All standards, especially the infrastructure of the site, were in very bad condition. Pierre Omidyar put a damaged laser on the site for testing purposes at a value of $ 14.83. A user also wanted to buy this damaged laser. The user bought the product saying that he had a damaged laser collection, but that's how eBay's story started.

Unexpected Growth

With the second-hand products sold by collectors visiting the site and the increase in the number of buyers, the company has grown significantly in a period of 5 months. eBay, or AuctionWeb, has become the fastest growing e-commerce site in the world.

Deciding to change the name of the site in 1997, Omidyar wanted to get the address of echobay.com due to the name of his own consultancy company, Echo Bay Technology Group, to which the site belongs. Since this address was taken before him, he took the abbreviation eBay address and put the current name of the company.

Solid Growth with Right Steps

After acquiring the eBay name, Omidyar opened up to the world in 1999 by purchasing the online payment company Billpoint. It quickly achieved successful growth in the UK, Germany and Austria.

Noticing the growth in PayPal in 1999, eBay also bought PayPal for $ 1.5 million in 2002. In 2004, it started to show its presence with its successes in Asian countries. Entering the mobile market in 2010, eBay showed its difference with cargo delivery in 2012. Providing fast delivery to its users during the day with eBay Now, eBay maintains its title as one of the most earning and growing companies for years.

It seems that eBay, which has earned billions of dollars today from $ 14 damaged laser sales, has no intention of staying where it is.

 

Ekli Görseller