eBayMonday, October 11, 2010 12:27
In 1995,to help his girlfriend buy and sell PEZ dispensers,Pierre Omidyar created eBay.com in his San Jose living room.Since then,guided by the vision of former president and CEO Meg Whitman,eBay has become a true cultural phenomenon,by far the largest person-to-person trading company on the Internet.
Using an auction format,sellers list items and buyers bid on them.Each eBay item has its own auction;buyers can choose the price they are willing to pay by bidding on the item or they can purchase those items listed as “Buy It Now.”It’s the equivalent of an online garage sale,yard sale,flea market,or estate auction,presented through a business model that fulfills eBay’s vision of connecting people.On any given day,113 million concurrent listings are available through auction-style and fixed-priced events,representing the activity of 86.3 million active members world wide.
eBay generates revenue with:
seller listing fees
charges for additional listing options and enhancements like bold type
customization options (colors,borders,and other highlight features) for auction presentations
sales fees,generally ranging between 1.25 and 5 percent of the closing auction price
Cool Tip:eBay has become the largest site on the internet for buying and selling motorcycles,cars,and auto parts.Making money with eBay is pretty easy to do.
One of the most important ways to make money online is attracting lots of traffic/visitors to a website.Driving traffic is an important way to generate online income.Because of eBay’s popularity and growth,traffic has skyrocketed to over 1 billion views a day!So if you choose to sell with eBay,you minimize your traffic hurdle.eBay worldwide has 100 million active customers,a global presence in 39 markets and in 2008 it traded 60 billion dollars in merchandise,
To get started making money with eBay all you need is a computer with internet connection,a registered eBay account (which is free),and a way to collect your eBay income ($MONEY$).You can wait for a check to arrive or money order to arrive in the mail,but having an online collection method encourages customer spending.
To facilitate payments,eBay purchased PayPal in 2002,and has become the standard payment option for eBay auctions.PayPal allows customers to register a bank account,credit/debit card against which they can charge their purchases .Customers can also keep funds in the PayPal account.The fact that customers can pay (especially with credit card) without sharing their financial information with the seller has dramatically increased eBay’s sales.
eBay Fun Facts:
eBay users trade more than $2,000 in goods and services on the site every second
In 2006,a luxury 405-foot yacht closed on eBay for $85 million,and that was just the deposit,it’s full cost was $168 million.
eBay engineers have to add about 10n terabytes of new storage every week to cover new transactions.
eBay has such high margins partly because it has no inventory,and because its customers do all the work.
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