It all began in September 1995 when Pierre Omidyar a software developer for Apple computers decided to sell his broken laser pointer. He created originally called ‘‘AuctionWeb‘‘ site which was created on the very same server as his page devoted to research about the ebola virus. It came as a surprise when he found out that his broken laser pointer was sold for more than 14 dollars. He decided to contact the winning bidder asking why would he buy a broken thing for this amount of money. He answered that he is a collector of broken laser pointers.
After the realization, that this might a good working bussiness, he created the entire new domain called ‘‘eBay‘‘ as a shorcut of Echo Bay. In 1996, company hired their first employees and started to provide austion services worldwide.
At the begging of the year 1997, the site became really popular among all generations of people and at that time it hosted more than two millions auctions.
Even though the company had revenues of almost 4.7 million dollars in 1998, it still had only 30 employees. Although, the number of users was radically high. According to statistics, there were about half a million users at the end of the year.
In the same year eBay went floated on the stock Exchange and it’s value made it’s founders bilionares. Four years later, eBay was able to buy out other smaller auction web sites and also PayPal.
After the company expanded worldwide, it’s profits and total value increased. At that time it already had about 15000 emplyees and it’s revenue was almost 7.7 billion.