Ebay: Expanding Into Asia
eBay: Expanding into Asia
On September 3, 1995, Pierre Omidyar founded eBay in San Jose, California. Pierre and his wife, Pamela Wesley, had a vision that included creating a marketplace online where people could share the same interests. This vision also included a format that could create a fair and open meeting ground where prices were determined purely by the market. The site was based on five main values: people are basically good; everyone has something to contribute; an honest, open environment can bring out the best in people; everyone deserves recognition and respect as a unique individual; and you should treat others the way you wanted to be treated. The online auction website did not initially charge user fees, but as popularity grew, a listing fee was implemented. These fees did not affect the number of bids and Omidyar realized that eBay could potentially be a profitable operation. Three years after eBay was founded, an initial public offering made the owner and company president instant billionaires. The overall strategy of eBay consists of three primary areas: products, sense of community, and aggressive expansion. eBay developed a wide array of product categories through different trading platforms. Paypal was acquired by eBay in 2002 and is considered the leader in online payments globally. Rent.com was obtained in 2005 and is the most visited US online apartment listing service. Skype became part of eBay in 2005 offering customers' free video and audio communication online. eBay looks to create personal connections through "social commerce" which they define as "a powerful combination of commerce, communication and community that enhances traditional buying and selling." They would like to expand opportunities economically by making the entire shopping and buying experience emotionally satisfying. They are also continually looking for ways to integrate technology to make activities increasingly fair and efficient.
eBay's
On September 3, 1995, Pierre Omidyar founded eBay in San Jose, California. Pierre and his wife, Pamela Wesley, had a vision that included creating a marketplace online where people could share the same interests. This vision also included a format that could create a fair and open meeting ground where prices were determined purely by the market. The site was based on five main values: people are basically good; everyone has something to contribute; an honest, open environment can bring out the best in people; everyone deserves recognition and respect as a unique individual; and you should treat others the way you wanted to be treated. The online auction website did not initially charge user fees, but as popularity grew, a listing fee was implemented. These fees did not affect the number of bids and Omidyar realized that eBay could potentially be a profitable operation. Three years after eBay was founded, an initial public offering made the owner and company president instant billionaires. The overall strategy of eBay consists of three primary areas: products, sense of community, and aggressive expansion. eBay developed a wide array of product categories through different trading platforms. Paypal was acquired by eBay in 2002 and is considered the leader in online payments globally. Rent.com was obtained in 2005 and is the most visited US online apartment listing service. Skype became part of eBay in 2005 offering customers' free video and audio communication online. eBay looks to create personal connections through "social commerce" which they define as "a powerful combination of commerce, communication and community that enhances traditional buying and selling." They would like to expand opportunities economically by making the entire shopping and buying experience emotionally satisfying. They are also continually looking for ways to integrate technology to make activities increasingly fair and efficient.
eBay's
Bibliography: 1. Article 2. Lloyd, Elizabeth. "Tips For Entering the Chinese Market." Online. 23 Feb. 2008 < http://www.imediaconnection.com/content/9064.asp > 3. "One Billion Customers: Lessons From the Front Lines of Doing Business in China." Online. 23.Feb. 2008 <http://www.onebillioncustomers.com/?page=author>