eBay has just celebrated its 10th birthday. It was founded in 1995 by a man named Pierre Omidyar. EBay’s original name was "Auction Web" but was changed to "eBay", short for "Echo Bay", which was the name of Omidyar's consulting firm. A main concept of eBay is that it doesn't sell items to people; it simply connects them and allows them to get on with the practice of selling. eBay has created a trusted community for buyers and sellers in a virtual marketplace.
EBay’s instant success was amazing. By the end of 1998, there were over 2.1 million registered users and eBay had become the most visited auction site on the Internet. Today there are over 114 million registered users, most of whom are buyers. eBay continues to lead the online selling market with their innovative buying and selling techniques. The concept of eBay, which is to unite buyers and sellers at one place on the Internet, continues to prove profitable for everyone involved, whether it is a buyer or a seller. eBay is an excellent example of a highly successful e-commerce site that continues to grow on a yearly basis.