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Bay - Wikipediae. Bay Inc. Public. Traded as.

NASDAQ: EBAYNASDAQ- 1. Component. S& P 5. Component. Industry. Internet. Founded. September 3, 1. 99. Auction. Web)Founder. Pierre Omidyar. Headquarters.

San Jose, California, U. S. Key people. Thomas J.

Tierney (Chairman)Devin Wenig (CEO)Services. Online shopping. Revenue US$8.

US$2. 3. 2 billion (2. US$7. 2. 6 billion (2. Total assets US$2.

Total equity US$1. Number of employees. Subsidiariese. Bay.

Classifieds, Kijiji, i. Bazar, Gitti. Gidiyor, Gumtree, Stubhub, Half. Marktplaats. nl. Websitewww. Bay Inc. (EE- bay, stylized as ebay) is a multinationale- commerce corporation, facilitating online consumer- to- consumer and business- to- consumer sales. It is headquartered in San Jose, California. Bay was founded by Pierre Omidyar in 1.

Today e. Bay is a multibillion- dollar business with operations in about 3. 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. In addition to its auction- style sales, the website has since expanded to include "Buy It Now" shopping; shopping by UPC, ISBN, or other kind of SKU number (via Half.

Kijiji or e. Bay Classifieds); online event ticket trading (via Stub. Hub); and other services. It previously offered online money transfers (via Pay. Pal,[6] which was a wholly owned subsidiary of e. Watch Seoul Train Online Forbes.

Bay from 2. 00. 2 until 2. The website is free to use for buyers, but sellers are charged fees for listing items after a limited number of free listings, and again when those items are sold.[7]History[edit]. Bay headquarters in San Jose, California. Early years[edit]The Auction. Web was founded in California on September 3, 1. French- born Iranian- American computer programmer Pierre Omidyar as part of a larger personal site.[8] One of the first items sold on Auction. Web was a broken laser pointer for $1.

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."[9]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, Mary Lou Song, in 1. This was revealed in Adam Cohen's book, The Perfect Store (2. Bay.[1. 0]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 $3.

Bay, and was not met with any animosity.[1. It resulted in the hiring of Chris Agarpao as e.

Bay's first additional employee to handle the number of checks coming in for fees.[citation needed]. Pierre Omidyar, founder and chairman of e.

Bay. Jeffrey Skoll was hired as the first new president of the company in early 1. In November 1. 99. Bay entered into its first third- party licensing deal, with a company called Electronic Travel Auction to use Smart. Market Technology to sell plane tickets and other travel products. Growth was phenomenal; in January 1.

The company officially changed the name of its service from Auction. Web to e. Bay in September 1. Watch Once Upon A Wedding Online Freeform. Originally, the site belonged to Echo Bay Technology Group, Omidyar's consulting firm. Omidyar had tried to register the domain name echobay. Echo Bay Mines, a gold mining company,[1.

Bay. com.[1. 4]In 1. Benchmark Capital. Meg Whitman was hired as e. Bay President and CEO in March 1. At the time, the company had 3. United States.[1. Bay went public on September 2.

Omidyar and Skoll became instant billionaires. Bay's target share price of $1. As the company expanded product categories beyond collectibles into almost any saleable item, business grew quickly.[9] In February 2. Bazar, a similar European auction web site founded in 1. Pay. Pal on October 3, 2.

By early 2. 00. 8 the company had expanded worldwide, counted hundreds of millions of registered users, 1. After nearly ten years at e.

Bay, Whitman decided to enter politics. On January 2. 3, 2. Whitman would step down on March 3. John Donahoe was selected to become President and CEO.[2. Whitman remained on the Board of Directors and continued to advise Donahoe through 2. In late 2. 00. 9, e. Bay completed the sale of Skype for $2.

In 2. 01. 2, e. Bay was charged by the United States Department of Justice with entering into non- solicitation agreements with other technology companies involving their highly skilled employees.[2. On September 3. 0, 2.

Bay announced it would spinoff Pay. Pal into a separate publicly traded company, a demand made nine months prior by activist hedge fund magnate Carl Icahn. The spinoff completed on July 1. Bay’s then chief executive, John Donahoe, stepped down from that role.[2. Corporate affairs[edit]Board of directors[edit]As of November 2.

Devin Wenig, new e. Bay CEO and President since 2. Fred D. Anderson, former managing director of Elevation Partners, director of e. Bay since July 2. Edward W. Barnholt, former president and CEO of Agilent Technologies, director of e.

Bay since April 2. Scott Cook, founder of Intuit, director of e. Bay since June 1. John Donahoe, e. Bay’s former president and CEO since March 2. Bay since January 2. David Dorman, non- executive chairman of Motorola, director of e.

Bay since June 2. William Clay Ford, Jr., executive chairman of Ford Motor Company, director of e. Bay since July 2. Kathleen C. Mitic, founder and CEO of Sitch Inc, director of e. Bay since September 2.

David M. Moffett, former CEO of Freddie Mac, director of e. Bay since July 2. Pierre Omidyar, director and chairman of e.

Bay, since its incorporation in May 1. Richard T. Schlosberg, former president and CEO of the David and Lucile Packard Foundation, director of e. Bay since March 2.

Thomas J. Tierney, co- founder of the Bridgespan Group, director of e. Bay since March 2. In September 2. 01. Bay introduced a new logo set in Univers,[2. October 1. 0, 2. 01. Profit and transactions[edit]e.

Bay generates revenue by a complex system of fees for services, listing product features, and a Final Value Fee for sales proceeds by sellers. As of November 2. US- based e. Bay. The Final Value Fee amounts to 1. Fixed- price listings have an insertion fee of $0. DVDs & Movies up to $5.

The UK- based ebay. Reduced Final Value Fees are available to business registered customers. Under US law, a state cannot require sellers located outside the state to collect a sales tax, making purchases more attractive to buyers. Although some state laws require resident purchasers to pay use tax on out- of- state purchases, it is not a common practice.[citation needed] However, sellers that operate as a business do follow state tax regulations on e. Bay transactions.[3. However Value Added Tax (VAT), the EU countries' sales tax, is different. Bay requires sellers to include the VAT element in their listing price and not as an add- on and thus profits by collecting fees based not only on the sale price "ex VAT" but also on the VAT.[3.

In a similar manner e. Bay also charges its Final Value Fees on all shipping charges. The company's business strategy includes increasing international trade.[3. Bay has already expanded to over two dozen countries, including China and India. Strategic international expansion has failed in Taiwan and Japan, where Yahoo! New Zealand, where Trade Me is the dominant online auction website. Bay also notably failed in China due to competition from local rival Taobao.[3.

Bay entered the Chinese market in 2.