Ebay Turns 20 Today

ebay logo
What’s more sobering that realizing that one of the earliest successful internet companies is 1 year shy of being able to drink?

20 years ago, on Labor Day Weekend, Pierre Omidyar began what eventually evolved into what we know as ebay today. Yes, that’s right, one of the earliest Silicon Valley e-commerce success stories, now turns to its third decade of business operation.

Some stats to blow your mind:

  • It’s estimated around 800 million items are being offered for sale on any given day.
  • iPhone/Android apps have been downloaded 279 million times
  • Ebay Motors has sold enough cars to encircle the moon more than 4 times
  • The number of paintings ebay has sold could fill the Louvre over 45 times
  • Originally called “AuctionWeb”, changed to eBay 2 years later
  • The eBay name comes from Omidyar’s consultancy firm Echo Bay Technology Group. he settled on ebay.com because he discovered that his desired domain echobay.com was taken by a gold mining company. #TheStruggleIsReal
  • One of the 1st items sold was a broken laser pointer for $14.83

eBay & PayPal Split?

What?

In the second half of 2015, pending the signing off of regulators, PayPal plans to spin off into its own publicly traded company.

Why?

Mounting pressure from the likes of Alibaba, Apple Pay, and their shareholders – and more importantly new market opportunities in mobile payments – has brought PayPal to the point where they need to go do their own thing again. PayPal’s vision & eBay’s vision no longer align as they once did, and hey there’s more money to be made outside the comfort of the tech marketplace powerhouse of eBay, so why not?

In the end, PayPal is limiting itself by staying with the eCommerce giant, so heading off on their own will open up opportunities that previously weren’t available to them (ie – having strategic partnerships with eBay’s competitors that could launch PayPal ahead into the future).

What does this mean for eCommerce store owners?

Honestly, probably not much will change as far as your current integrations, but it’s too early to tell. We’ll keep you posted as things evolve.