eBay started in Silicon Valley by Pierre Odymar, headquarters are here in Victoria, London.
eBay is effectively a “giant jumble sale”, also known to some as a “cult”. Remarkable bargains, with great customer service.
Revenue model – eBay make money through transaction fees and commission. Its the ideal business concept, no upfront costs, no costs of goods, no inventory,
Way of keeping trust with honest, reliable customers is through feedback option. It works very well, feedback for buyers and sellers; you are then scored for a rating.
Potential problems:
Taxes “Black Economy eBay” - tax collectors and excise agents are looking to tax eBay somehow. As a result eBay sends out a message to all customers to remind them to pay their taxes.
FACTS:
· £18 billion global sales
· Trade £2 billion worth of goods per year
· 59% largest economy last year (1 behind Kuwait)
· Global audience of 100 million
· 30p fee for each auction, then a percentage of the sale price
· 100 million registered users
· ½ billion revenue per year
· 10 ,000 people make a living by trading on eBay
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