It is an Internet site whose main purpose is the sale of products through the Internet where the auction method is applied for its realization, being one of the first sites to enter this type of market, however, side conventional sales with a price already set. It was founded by Pierre Omidyar in 1995, the first object that was for sale was a laser pointer that did not work and for which a price of $ 14.83 was paid.
In 1999 it was introduced in the Nasdaq electronic stock exchange, then in 2001 it bought the iBazar group in order to expand to the European market, the following year it acquired PayPal from which it would end up being separated in 2015, in 2005 it acquired LoQuo, already in 2009 it announced its classified ad services, which included ads for the purchase and sale of cars and houses, in that same year it reached an agreement where it acquired about 34 percent of Gmarket (Korean auction page) transaction estimated to be for about $ 1.2 billion. For the year 2013, it made public the purchase of one of its biggest competitors, the Braintree company, for about 800 million dollars.
The way eBay works is very simple, everything starts when a user is interested in selling an item.(of very varied types), uploads it to the eBay site, after that, the seller has the option of accepting only offers for the product, that is, auction it, or on the contrary, establish it at a fixed price, which facilitates the buyer obtain immediately the acquisition of the product you bought. In the auction mode, the bids will start at the minimum amount established by the seller, said auction will be open for a certain number of days, during which time potential buyers can make their offer and try to get said item, after Once the advertisement ends, the product will be acquired by the one who has offered the highest sum of money. On the other hand, in the "buy it now" mode (fixed price), the item will be acquired by the person who first offered the amount set by the seller.
