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eBay is one of the leading online marketplaces in the world, founded in 1995 by Pierre Omidyar. Initially, eBay operated under the name AuctionWeb, which was a general auction site that allowed people to purchase and sell various items online. Over the years, eBay has evolved into a business that connects millions of buyers and sellers globally, providing them with a safe and user-friendly platform to conduct transactions.
The eBay platform is designed to facilitate transactions through its website, mobile app or eBay-owned properties such as classifieds websites, StubHub (a ticketing platform) and Gumtree (a classified ad site). eBay serves as an intermediary between buyers and sellers, providing payment processing services, customer support, and shipping assistance. eBay's business model is based on charging a fee to sellers for listing and selling their items, as well as charging a commission based on the final sale price.
One of eBay's strengths is that it offers a vast selection of products across many categories, ranging from electronics, clothing, home goods, to cars and real estate. This diversified offering has allowed eBay to become a popular destination for consumers looking for unique or hard-to-find items. This is largely due to the fact that eBay operates as a platform for individual sellers, who can list their own products for sale, allowing for a wide array of items that buyer's may not find in traditional retail channels.
eBay has also become well known for the various tools and features it offers, including the seller analytics tool Terapeak to help sellers optimize their listings, and promoted listings, a paid advertising solution that allows sellers to boost their products' visibility in search results. In addition to this, eBay has introduced newer technologies in recent years, such as augmented reality (AR) to aid in visualizing how products will look in a given space.
eBay has also acquired several companies over the years to broaden its services. This has included PayPal, a digital payment platform, and StubHub, an online ticket resale platform. These acquisitions have allowed eBay to expand its offerings beyond just e-commerce and encompass financial services and ticket sales.
Overall, eBay has consistently maintained its status as a leading global marketplace by providing a vast selection of products, innovative features to support its sellers, and by expanding into other complementary markets.