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 as AuctionWeb. The 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 third-party licensing agreement with a company called Electronic Travel Auction to use the SmartMarket technology to sell airline tickets and other travel products. The company officially changed the name of its service from AuctionWeb to eBay in September 1997. It went public in 1998, and both Omidyar and Skoll became instant billionaires. eBay Inc. is a company built on commerce, trust and opportunity. “eBay brings together millions of people every day locally, nationally and internationally through a series of websites focused on commerce, payments and communications (eBay.com).” The 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 auction-style and fixed-price trades. With millions of buyers and sellers worldwide, eBay offers localized sites around the world. They have offices in Europe, North America and Asia. eBay is constantly acquiring new innovative businesses which keeps them at the top among 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 business model of the Internet market that is used to much of its potential. Revenue is generated in both business-to-consumer and business-to-business transactions. Auction and transaction revenue will continue to increase as the number of users increases.REFERENCESAuthor Unknown. 2007. Amazon.com announces first quarter sales exceed $3 billion, up 32% year over year - Operating profit grows 38% - Increases financial guidance. Retrieved June 26, 2007, from www.amazon.com.Unknown Author. 2007. eBay Inc. Announces First Quarter 2007 Financial Results. Retrieved June 26, 2007, from www.eBay.com.Unknown Author. 2007. Quarterly report that provides an ongoing view of a company's financial position. Retrieved June 26, 2007, from www.overstock.com.