"It breaks my heart," says Linda Collier, casting a despondent look down Leigh's deserted high street.
13.05.2024 - 10:03 / dailyrecord.co.uk
People are only just realising what eBay actually stands for 28 years after the launch of the popular online marketplace.
The American company was first called AuctionWeb when it was first launched back in September 1995, reports the Express. Founder Pierre Omidyar had a vision to create a website that was "dedicated to bringing together buyers and sellers in an honest and open marketplace".
The founder spent the weekend of Labour Day in the States coding the website on his own computer before unveiling AuctionWeb to the world.
As the first ever user, Pierre listed a broken laser pointer for sale shortly after he launched the site - and was super excited when Canadian Mark Fraser purchased it. Just one year on, the total value of products sold on AuctionWeb hit a whopping 7.2 million dollars - and this was merely the beginning.
In a twist, AuctionWeb was then rebranded as eBay in September 1997 which had people confused as to why the name had been changed. As one confused Quora user asked: "What is the full form of eBay?" Another also asked: "What does the name eBay mean?"
As the story goes, eBay is named after the Echo Bay Technology Group, which was Pierre's consulting firm. However, the domain name echobay.com was already taken by a gold mining company called Echo Bay Mines - so they abbreviated it to eBay.com.
It was also reported at the time that Pierre created the website to help his wife collect Pez candy dispensers - but this story has since been debunked. eBay released a statement saying: "It's revealed that the story was a fabricated one."
One of the milestones for the company was the Beanie Babies craze which took place in 1996 while eBay was still called AuctionWeb. The e-commerce company reported: "Beanie
"It breaks my heart," says Linda Collier, casting a despondent look down Leigh's deserted high street.
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