Most of us would have had at least one eBay shopping experience. The shopping site is well known for allowing its users to purchase used and unused products through online auctions and B2B consumer sales.
But, have you ever taken a moment to wonder what the “e” in eBay actually means?
Formerly called AuctionWeb, there’s a reason the site’s founder decided to call the company eBay. Here’s what we know!
What does e mean on eBay?
The letter “e” on eBay stands for Echo.
The company was called AuctionWeb until September 1997. Its founder, Pierre Omidyar, could not accept the domain name echobay.com because it was already taken, and apparently it still is.
The company was then called eBay, a shorter version of EchoBay.
And, Echo Bay Technology Group was Omidyar’s consulting firm. He then named his future company.
How the company was born
When Omidyar decided to create something of his own, his intention was to just do “something cool online”.
The 28-year-old software developer invented AuctionWeb, but little did he know it would become the multinational e-commerce company it is today.
According to CNN, he created the site so his then-fiancée could buy and sell PEZ dispensers.
And Omidyar himself was surprised when a customer bought the first item sold on eBay – a broken laser pointer.
Apparently the client was a collector of broken lasers. So eBay was exactly the site he was looking for.
How to use eBay
You don’t need to pay to have an eBay account. The website provides options for selling and buying products.
However, if you have a seller account, you must pay the listing fee, which depends on how long you plan to feature your product on the site.
It currently works in several countries.
Meanwhile, eBay’s logo has remained the same since its inception in 1995, except in 2012 a slimmer variant of the same was unveiled.
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