Another cornerstone of the Internet age has reached a milestone birthday this month.
eBay – launched as Auction Web in 1995 but rebranded two years later – the site claims to have a community of 157 million people with more than 800 million items on sale at any one time.
So why has the site been so successful? According to the CEO of eBay, Devin Weing, it is because traditional barriers such as language, distance and borders are being broken down. He says that anyone with an idea and access to the Internet can build a better life – and it seems that with 80% of the goods for sale being new, he is right!
Many of us might use the site to sell unwanted mobile phones or designer clothes – at reasonable prices, no doubt and with plenty of bids from interested buyers. There were fewer people able to keep up with the bidding for “Gigayacht” back in 2006. Designed by Frank Mulder, it was purchased by Russian billionaire Roman Abramovich for a whopping 168 million US Dollars – making history.
So it would seem that yet again the Internet could offer businesses yet another way to sell their products and their brand right across the globe.
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