Internet Strategy PapereBay, Inc.EBAY INC.eBay, the online auction website, was founded in San Jose, California on September 3, 1995, by computer programmer Pierre Omidyar under the name AuctionWeb. The very first item sold on eBay was a broken laser pointer for $14.83. Chris Agarpao was hired as eBay's first employee and Jeff Skoll was hired as the company's first president in 1996. In November 1996, eBay entered into its first licensing agreement with a company called Electronic Travel Auction to use SmartMarket technology to sell plane tickets and other travel products. The company officially changed the name of its service from AuctionWeb to eBay in September 1997. They went public in 1998, and Omidyar and Skoll became instant billionaires. eBay Inc. is a company built on commerce, trust and opportunity. “eBay connects millions of people locally, nationally and internationally every day through a range of websites focused on commerce, payments and communications (eBay.com).” eBay Marketplace creates a powerful online platform for the sale of goods and services by a community of individuals and small businesses. Every day, millions of collectibles, appliances, computers, furniture, equipment, vehicles and other miscellaneous items are listed and available through fixed-price auctions and trades. With millions of buyers and sellers worldwide, eBay offers sites located all over the world. They have locations in Europe, North America and Asia. eBay is constantly acquiring new, innovative businesses that keep them at the forefront of other online businesses. In recent years they have acquired Paypal, Skype, Shopping.com and Rent.com. In October 2002, eBay ...... middle of paper ...... or eBay is technical. They perform tasks such as maintaining servers and networks. This is the economic model of the Internet market used to its maximum potential. Revenue is generated in both business-to-business and business-to-business transactions. Revenue from auctions and transactions will continue to increase as the number of users increases.REFERENCESAuthor unknown. 2007. Amazon.com Reports First Quarter Sales Exceed $3 Billion, Up 32% Year Over Year -- Operating Profit Increases 38% -- Raises Financial Guidance. Retrieved June 26, 2007 from www.amazon.com. Author unknown. 2007. eBay Inc. announces its financial results for the first quarter of 2007. Retrieved June 26, 2007 from www.eBay.com. Author unknown. 2007. Quarterly report that provides an ongoing view of a company's financial condition. Retrieved June 26, 2007 from www.overstock.com.