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The company manages e Bay.com, an online auction and shopping website in which people and businesses buy and sell a broad variety of goods and services worldwide.In addition to its auction-style sales, the website has since expanded to include "Buy It Now" shopping; shopping by UPC, ISBN, or other kind of SKU (via Half.com); online classified advertisements (via Kijiji or e Bay Classifieds); online event ticket trading (via Stub Hub); and other services."World's Online Marketplace." "Connecting buyers and sellers globally." "Whatever it is, you can get it on e Bay." "Buy it, sell it, love it" "Buy it New, Buy it Now" "When it's on your mind, it's on e Bay";) is an American multinational corporation and e-commerce company, providing consumer-to-consumer and business-to-consumer sales services via the Internet. e Bay was founded by Pierre Omidyar in 1995, and became a notable success story of the dot-com bubble.Today it is a multibillion-dollar business with operations localized in over 30 countries.In his responding email, the buyer explained: "I'm a collector of broken laser pointers." The frequently repeated story that e Bay was founded to help Omidyar's fiancée trade Pez candy dispensers was fabricated by a public relations manager in 1997 to interest the media, which were not interested in the company's previous explanation about wanting to create a "perfect market".Reportedly, e Bay was simply a side hobby for Omidyar until his Internet service provider informed him he would need to upgrade to a business account due to the high volume of traffic to his website.The company officially changed the name of its service from Auction Web to e Bay in September 1997.Originally, the site belonged to Echo Bay Technology Group, Omidyar's consulting firm.
Jeffrey Skoll was hired as the first president of the company in early 1996.It previously offered online money transfers (via Pay Pal), One of the first items sold on Auction Web was a broken laser pointer for .83.Astonished, Omidyar contacted the winning bidder to ask if he understood that the laser pointer was broken.In November 1996, e Bay entered into its first third-party licensing deal, with a company called Electronic Travel Auction to use Smart Market Technology to sell plane tickets and other travel products.Growth was phenomenal; in January 1997 the site hosted 2,000,000 auctions, compared with 250,000 during the whole of 1996.
Omidyar had tried to register the domain name echobay.com, but found it already taken by the Echo Bay Mines, a gold mining company, After nearly ten years at e Bay, Whitman decided to enter politics.