As one of the world’s leading Online Market Places, eBay has a very strong contextual background which must be considered by all startups and online businesses around the world.
The Introduction of Auction Web
Before eBay had born, there was no such anticipation for such a large-scale project in the mind of Pierre Omidyar—The Founder of eBay. However, the major aim of Omidyar was to enable sellers to reach their potential buyers, and for that he developed a small-scale start up platform known as AuctionWeb.
This Market Place was intended to be an honest and open marketplace meant for the purpose of accelerating the process of buying and selling on Online Market Places, with the goal of shifting Commerce and Trade Online from the Slow Traditional means of Commerce used at the time.
The First Sale for the Online Company
After the establishment of AuctionWeb, this idea gradually gained prominence in the International Market. The First Item was sold in 1995 which was listed by the owner himself, and the item was sold to a Canadian Citizen named Mark Fraser. Although this Sale was a sigh of financial relief for the owner, but the over motive of this endeavor never changed. The Motive was always to Help Sellers and Buyers Connect with one another.
Worked for Greater Good and $7.2 Million Worth of Goods Sold!
After a few years, this small-scale market place transformed into a multi-million-dollar platform. It was estimate that the total value of goods sold on AuctionWeb reached almost $7.2 million, which was a mammoth success for the company at its initial stages.
Many people directed this success to the overall intent based in the basic foundations of the company, which was to work for the greater good of mankind; to enable people to buy their favorite goods online; to make people aware of all the range of goods to choose from; to provide sellers with an easy platform to reach potential customers and sell their goods easily; to enable sellers to earn maximum profits online; and finally, to make everyone’s life easier.
In 1997, eBay is Born!
In 1997, this once a small-scale online eCommerce platform changed its named to eBay. However, this named signified the massive eCommerce success which the company had achieved over a short period of time. This pointed toward the fact that people are attracted towards the things which in end make their lives easier and more productive. This what eBay did actually, from the very beginning. As a result, masses were attracted to the simple calling of this great eCommerce Platform.
The Moral Lesson for All Start Ups
The lesson from this exceptional eCommerce story is very Simple. You must be intentionally sound and clear when you decide to initiate a startup. If you are a determined person with the broader good of mankind, success will definitely come to you. Furthermore, you can easily set up a team of professionals once the process is complete and the institution is created, but in the beginning, you must be willing to wait in order to harness the product in future.