"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.
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.
It previously offered online money transfers (via Pay Pal), One of the first items sold on Auction Web was a broken laser pointer for $14.83.
Astonished, Omidyar contacted the winning bidder to ask if he understood that the laser pointer was broken.
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 resulting price increase (from $30/month to $250) forced him to start charging those who used e Bay, and was not met with any animosity.