eBay was one of the first of what used to be many online auction sites on the internet, launched way back on Labor Day of 1995.
It is an international community of buyers and sellers linked together via internet. People for all over the globe use eBay to buy and sell merchandise and services.
eBay itself doesn’t buy or sell anything; it carries no inventory and collects no payments. eBay is just the middleman ion the selling process hooking up buyers and sellers around the world and collecting fees from sellers for doing so.
Most of the transaction in eBay occurred electronically via the internet. More often, money change hands electronically by direct bank transfer or credit card transaction.
Unlike Amazon, eBay does not sell merchandise directly; it’s just a marketplace for other sellers.
eBay remains a powerhouse online but its mission is to connect commerce.
According to eBay, ‘connected commence is both local and global, online and offline, big and small players can succeed with each other, not in spite of each other, creating competition that less ‘winners takes all’ and more ‘takes all to win’.
Business story of eBay
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