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The company facilitates business to business as well as business to consumer sales. The company was founded by Pierre Omidyar in the year The company has a different ideology than most other companies in this particular business.
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The company unlike most of its competitors provides the user with an online auction base, where one can bid for the product. With this particular concept, the company has been in the business for more than 22 years now. However, it was primarily known as AuctionWeb. AuctionWeb was started completely as a hobby of its owner, Omidyar. However, soon the founder understood that he would have to upgrade the business account of this particular website, as the number of users of this particular site was way too much.
This is just the reason that the company started charging its sellers a small price. In the year , the company went on to have a deal with Electronic Travel Auction which wanted the company to sell ou the travel tickets and the other travel products for it. It was in the year that the company finally thought of changing the name from AuctionWeb to echobay. However, while purchasing the same, Omidyar noticed that the domain is already purchased by the company Echo Bay Mines and so he had to restrict himself to eBay, which went on to become a brand for itself.
However, after having established themselves as one of the many e-commerce companies in the world, the website then went on to charge each and every seller for listing the product and then a percentage of each sale that the company does. It also went on to acquire some of the local e-commerce websites from different countries to help themselves have a strong base around the globe.
The company also makes the sales even more exciting with the offers and the discounts that one can enjoy with the each purchase. After being in the business for long, the company has gone on to acquire a lot of companies, which includes the likes of StubHub, Craiglist, Skype and much more. However, the company did not have the best of their luck with these accusations and had to sell out most of them to the other investors and the sellers.
Skype, which was acquired by the company in the year , was finally sold to Microsoft, which bought the same in the year Paypal, which the company had bought in the year went on to be declared as a free company in the year The Ebay HDFC card offers to attract the users to select the particular product of their choice at cheapest possible and then choose the HDFC as a primary payment method, the user will get a 7. Discounts can only be redeemed by the user who has a valid account with HDFC bank. The eBay Cashback amount will be credited to their bank account within 90 days or time specified by the banking company.
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