eBay, Inc.
Company Overview
Founded on Labor Day weekend in 1995, eBay now operates the world's largest online trading community. The first sale by founder and computer programmer Pierre Omidyar was a broken laser pointer that was slated for the trash can; he sold it for $14.83. As of December 2010, 94.5 million users were active globally buying and selling practically anything. That user list compares to 90.1 million the previous year end. eBay brings together a diverse community of individual and small business buyers and sellers that trade goods worth more than $2,000 every second. In 2010, the total value of goods sold on eBay was $62 billion. (eBay, 2010)
With a highly active corporate development function, eBay has acquired such innovative businesses as PayPal (online payments), Bill Me Later (deferred payments for customers such as Borders, Continental Airlines and Walmart.com), Shopping.com (comparison shopping), Rent.com (home and apartment rentals), StubHub (online ticket sales), and Gmarket (Asia e-commerce), which have put the company in the global lead in the e-commerce and payments business. Recent activity also bodes well for the company to become a player in the area of services designed for hand-held mobile devices. (eBay, 2010)
In March 2011, eBay revealed its intent to purchase e-commerce behemoth GSI Commerce valued at $2.4 billion, one of the largest acquisitions ever for eBay. This move will strengthen the operations of eBay Marketplaces as well as PayPal. When finalized in August 2011, this combination should serve to increase cross-selling opportunities, especially with larger merchants. (Hoovers, 2011)
Through its subsidiaries and affiliates, eBay operates in about 40 markets worldwide through websites that are focused on Vietnam, Thailand, Taiwan, South Korea, Singapore, the Philippines, New Zealand, Malaysia, India, Hong Kong, China, and Australia in greater Asia/Pacific. In Europe, the company covers the U.K., Turkey, Switzerland, Sweden, Spain, Portugal, Poland, the Netherlands, Italy, Ireland, Germany, France, Belgium, and Austria. eBay reaches Mexico, Canada, Brazil, and Argentina in the Americas. In China, eBay has formed an alliance (it owns 49%) with TOM Online, the internet...
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