In the late 20th century, young Frenchman Pierre Omidyar came up with the idea to create an online trading platform for his Pez-collecting girlfriend to connect with other collectors. It was this little spark that would eventually result in the birth of the online auction known as eBay.
Or, at least, that's the corporate line the marketing boys came up with. It does make for a great story, and chances are there is a lot of truth to it, although certainly with a marketing twist. However, why Pierre started the online auction revolution isn't important. What's important is that it changed the World Wide Web, and the world, forever.
In 1995 Pierre wrote auction software, which he called AuctionWeb, and put it up on the web. He listed a broken laser pointer as a test of his newly formed program. Astonishingly, the laser pointer sold for nearly $15.
Pierre never saw it coming. Sellers initially were given free access until supporting the community became so overwhelming, Pierre had the bright idea to start charging a dime for each listing in an attempt to cut down on the number of sellers. His plan backfired and the toddler auction site continued to grow.
AuctionWeb began to grow beyond Pierre's ability to manage by himself. That's when Stanford grad Jeff Skoll was brought on board along with Jim Griffith, the first eBay customer support agent. Jim was just an Auction Web junkie who help out other users on the discussion boards. But he was suffering a severe depression when he received a call from Pierre and Jeff with a job offer that, according to Jim, saved his life.
AuctionWeb would later become eBay (which some say is a reference to Echo Bay, the name of Pierre's consulting firm at the time) and Harvard MBA and former Hasbro executive Meg Whitman would soon join the rapidly growing ship. Under Meg Whitman's leadership, eBay's growth was exponential. Early employees, thanks to stock options, became millionaires while executives became billionaires.
Employees weren't the only ones to strike it rich. The online auction giant became the platform that would support thousands of entrepreneurs who would make a full-time income, some of them hauling in six figures per month.
As with all things successful, several companies have tried to emulate eBay's incredible story of prosperity, with most of them falling by the wayside. Through it all, eBay remains the largest and most successful online auction, and still the #1 platform for beginning "netpreneurs" to get their start.
Or, at least, that's the corporate line the marketing boys came up with. It does make for a great story, and chances are there is a lot of truth to it, although certainly with a marketing twist. However, why Pierre started the online auction revolution isn't important. What's important is that it changed the World Wide Web, and the world, forever.
In 1995 Pierre wrote auction software, which he called AuctionWeb, and put it up on the web. He listed a broken laser pointer as a test of his newly formed program. Astonishingly, the laser pointer sold for nearly $15.
Pierre never saw it coming. Sellers initially were given free access until supporting the community became so overwhelming, Pierre had the bright idea to start charging a dime for each listing in an attempt to cut down on the number of sellers. His plan backfired and the toddler auction site continued to grow.
AuctionWeb began to grow beyond Pierre's ability to manage by himself. That's when Stanford grad Jeff Skoll was brought on board along with Jim Griffith, the first eBay customer support agent. Jim was just an Auction Web junkie who help out other users on the discussion boards. But he was suffering a severe depression when he received a call from Pierre and Jeff with a job offer that, according to Jim, saved his life.
AuctionWeb would later become eBay (which some say is a reference to Echo Bay, the name of Pierre's consulting firm at the time) and Harvard MBA and former Hasbro executive Meg Whitman would soon join the rapidly growing ship. Under Meg Whitman's leadership, eBay's growth was exponential. Early employees, thanks to stock options, became millionaires while executives became billionaires.
Employees weren't the only ones to strike it rich. The online auction giant became the platform that would support thousands of entrepreneurs who would make a full-time income, some of them hauling in six figures per month.
As with all things successful, several companies have tried to emulate eBay's incredible story of prosperity, with most of them falling by the wayside. Through it all, eBay remains the largest and most successful online auction, and still the #1 platform for beginning "netpreneurs" to get their start.
About the Author:
As a former eBay employee and PowerSeller, Stuart Lisonbee has turned to helping others make money on eBay by teaching them PowerSeller strategies and revealing wholesale sources, including wholesale dropshippers.
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