eBay Inc., is a huge online marketplace based in San Jose, California. The American multinational company facilitates the sale of goods consumer to consumer as well as business to consumer through its website. The e-commerce giant operates its online business in more than 30 countries, around the world.
Founded by French-born Iranian American Pierre Omidyar, on September 23, 1995, the company has now become the go-to-marketplace for online transactions. Computer programmer Omidyar reportedly began the site as a hobby and called it AuctionWeb. The name was changed to eBay in 1997 as the name echobay was already taken as a domain name by a gold mining company.
Beanie Babies manufactured by Ty Inc. became a dominant product on eBay, in its early days. Although toys are still an integral part of the website’s business to consumer operations there are a long list of products available on eBay including
sports collectibles and
As eBay grew in size and in number of daily consumers who traded among themselves or bought from businesses listed the on the website, the e-commerce banned harmful and restricted items. The site offers the bidding option as well as a buy it now option. Sellers can also set up an eBay store on the site. They can consolidate their transactions and gain additional benefits from the website.
eBay is a multisided platform and creates value as it matches the right buyers and sellers in transactions. The platform manages to provide a great experience for both the parties. Most transactions take place through PayPal, which was a subsidiary of eBay, in 2002 before it was spun off as a separate company, in 2015.
eBay is attracting a large number of establishments to open stores on its website. Inter Milan opened a store on eBay according to news reports. The Italian soccer giant has inked the deal following its rival AC Milan who has also partnered with the e-commerce giant.
Paris Jewelry has launched celebrity jewelry store on eBay. Paris Jewelry– the House of multi-colored stones has announced the availability of its latest creations on the store in the popular e-commerce website. The jewelry store functions on eBay all year round and has announced some special deals right in time for the holiday season, so consumers can get the best deals of the year.
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