Impact of Internet on eBay



Impact of Internet on eBay

Introduction

A consumer to consumer (C2C) and an American based multinational corporation is the EBay. In the San Jose, California, the Headquarter of eBay is located. In the year 1995, eBay was established and became a dominant tale of the world of web. At present, the eBay is a business of multibillion dollars and is functioning in almost more than thirty nations of the complete globe. An online shopping and auction website is eBay where the businesses and people sell and buy a range of services and products all over the globe.

Furthermore, the innovative style of selling the products and services by the eBay is appreciated by the world (Cabral, & Hortacsu, 2010). The website of eBay has expanded globally due to its unique selling style which includes the “Buy it now” shopping standard. The shopping by the ISBN, UPS and SKU is being categorized in the occasion of trading the online ticket, online advertisement and the transfers of online money and various other valuable services.

History

On September 5th, 1995, in the San Jose of California, the Auction Web was established by a computer programmer which was a French born Iranian American. His name is Pierre Omidyar and born on June 21st, 1967. He built this as an element of a bigger site which was personal and consists of various other things in which Ebola Virus was the prominent (Becker, 2009). The first and main item that was sold by the eBay was a laser pointer and was sold at a price of $14.83.

Shocked, Omidyar reached the scoring bidder with a specific end goal to inquire as to the laser pointer if it was out of order. In the reaction of the Omidyar, the purchaser stated that he is the authority of the laser pointer that is out of order. The rehashed anecdote about the eBay that it has been built so as to assist the exchange of life partner of Omidyar i.e. Pez merchants was fabricated by the chief of open connection in the year 1997 to get magnetism for the media that had no premium in the past illustration of the association in making an ideal business. This anecdote was uncovered in the book naming “The Perfect Story” in 2002 by Adam Cohen and was confirmed by the eBay. In the year 1996, the first president of the eBay was Mr. Jefferey Skoll and the first worker that was employed by the eBay management was Chris Agarpao.

In the year 1996 and month of November eBay made the initial deal of a third party licensing with a company naming Electronic Auction (Lucking, et al. 2007). This was done to sell the tickets of plane and various other products that are utilized in the travelling purposes by utilizing the Technologies of Small Market. Officially, in the month of September in the year 1997, the name of the Auction Web was modified. The website eBay was originally belonged to the group of Echo Bay Technology ...