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Ebay started as a marketplace for traders and collectors, as it was a unique and much needed opportunity. The need for a trading place where shoppers could buy and sell anything - from vintage bubble gum to exotic plants or discarded celebrity napkins was urgent. The company had modest beginnings and was created by Pierre Omidyar in 1995. Little did he know that soon his Auction Web will become today’s Ebay - global e-commerce and auction platform for shoppers, antique hunters, traders, and collectors alike, employing 15,000 people. Ebay is based in San Jose, California and specializes in consumer to consumer, or business to consumer sales. The company’s success is due to its business model and wide range of options, supported by their website: shoppers can browse, save products, compare, bid on them, monitor sales prices, and communicate directly. The market here is very simple and based on supply-demand economic principle – the item is only worth what people are willing to pay for it. Some in-demand or limited production merchandise can break price records and make both seller and buyer very satisfied. The need for a middle man is gone and the market runs free, guided only by natural market laws. The company today is one of the largest corporations in America and is known brand name worldwide. more...
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