EBay Exposed

The Birth of eBay

The online auction Web webpagina, eBay, wasgoed founded te San Jose, California, on September Three, 1995, by Pierre Omidyar, a French-born rekentuig programmer of Iranian descent. eBay wasgoed originally known spil AuctionWeb.

The very very first voorwerp sold on eBay wasgoed a violated laser pointer for $14.83. Incapable to believe his eyes, Omidyar contacted the winning bidder to ask if he understood that the laser pointer wasgoed cracked. The buyer responded via email, &quot,I’m a collector of cracked laser pointers.&quot,

And so wasgoed born the trading postbode for weird and wonderful items of every zuigeling. Ter latest years, water that wasgoed said to have bot left te a cup Elvis Presley merienda spirituali from wasgoed sold on eBay for $455. The few tablespoons came from a plastic cup Presley sipped at a muziekstuk te North Carolina te 1977. A Coventry University student got ВЈ1.20 on eBay for a single cornflake. A group of four dudes from Australia auctioned themselves on eBay to spend the weekend with the promise of &quot,beers, snacks, good conversation and a hell of a lotsbestemming of laughs&quot, for AU$1,300.

The company now known spil eBay officially switched the name of its service from AuctionWeb to eBay te September 1997. Originally, the webpagina belonged to Geluidsweerkaatsing Bay Technology Group, Omidyar’s consulting rock hard. Omidyar had attempted to register the domain name echobay.com ,but found it already taken by the Weerklank Bay Mines, a gold mining company. His 2nd choice wasgoed eBay.com, reasonably frío to make the transition from consulting to auction podium reasonably seamless.

The eBay Song

Top eBay Categories for 2008

Based on eBay’s Q1-08 gross merchandise volume report, the following eBay.com categories delivered $1 billion or more ter worldwide annualized gross merchandise volume for eBay:

eBay Motors at $Legal.0 billion

Consumer Electronics at $Five.8 billion

Computers at $Four.Two billion

Clothing & Accessories at $Five.Trio billion

Huis & Garden at $Four.Two billion

Collectibles at $Two.8 billion

Books/Music/Movies at $Trio.Five billion

Sports at $Two.9 billion

Business & Industrial at $Two.6 billion

Fucktoys at $Two.Four billion

Jewelry & Witnesses at $Two.Three billion

Cameras & Photo at $1.7 billion

Antiques & Kunst at $1.Five billion

Coins & Stamps at $1.Four billion

Tickets & Travel at $1.Five billion

eBay Grows and Grows

eBay grew by leaps and bounds. Ten years after its inception, te a survey conducted by AC Neilson on behalf of eBay, more than 724,000 Americans reported that eBay is their primary or secondary source of income. Another 1.Five million individuals said they supplemented their income by selling on eBay.

eBay went public on September 21, 1998, and both Omidyar and his very first employee, Jeffrey Skoll, became instant billionaires. eBay purchased PayPal on October 14, 2002, and also wields Skype, StubHub, Shopping.com, StumbleUpon.com, and various other businesses. eBay also has minority interests te a number of businesses, such spil eBay’s 28.4% ownership of Craigslist – this percentage is presently the subject of a dispute, after Craigslist’s houtvezelplaat of directors ratified an opstelling which would unilaterally dilute eBay’s holding by 10%.

Today, PayPal has 149 million registered users and is accepted by millions of merchants worldwide – on and off eBay. PayPal’s Q1 2008 entero total payment volume of $14.Four billion accounted for almost 9 procent of worldwide eCommerce.

Given the strength of PayPal’s competitive position, is it truly necessary for eBay to prop it up by requiring eBay sellers to suggest PayPal spil an option, and by attempting to make PayPal the only acceptable form of payment ter Australia and the UK?

The history of eBay is littered with controversy and similarly dubious business practices. For example, the story that eBay wasgoed founded to help Omidyar’s fiancГ©e trade PEZ Candy dispensers wasgoed fabricated by a public relations manager te 1997 to rente the media. (This particular wrinkle wasgoed exposed te Adam Cohen’s 2002 book &quot,The Ideal Store: Inwards eBay&quot, and straks confirmed by eBay.)

On July 28, 2003, eBay and its subsidiary PayPal agreed to pay a $Ten million fine to lodge allegations that they aided illegal offshore and online gambling. Thesis offenses occurred prior to eBay’s purchase of PayPal.

An investigation by The Sunday Times te January 2007 uncovered substantial evidence of shill bidding on eBay. Te late 2006, eBay effected a policy switch which resulting ter eBay demonstrating less information about eBay bidders merienda auctions reached a certain value. This policy has bot criticized for making shill bidding much tighter to detect on eBay, to the potential disadvantage of eBay buyers and significant advantage to unethical eBay sellers, who may artificially inflate the price of an auction by bidding on their own eBay listings.

Not all the shady practices are eBay’s own – eBay buyers and eBay sellers have had their share of publicity for bad behaviour.

Ter May 2000, eBay seller Kenneth Walton auctioned an oil painting on eBay for $135,805, due to speculation that it might be the work of California modernist Richard Diebenkorn. Walton pretended to know nothing about kunst and claimed to be astonished by the price the painting fetched, and the auction attracted international media attention.

Ter several investigative reports by The Fresh York Times, it wasgoed exposed that Walton wasgoed te fact an experienced eBay kunst dealer with several unhappy customers, and that he had colluded with two other eBay sellers to bid up each other’s auctions. The Times described this spil a &quot,shill bidding stadionring&quot. Walton and his cohorts were banned from eBay and subsequently pleaded guilty to fraud after a threat by the federal government of the very first everzwijn prosecution for shill bidding on eBay.

Related video:

Leave a Reply