At a time when almost all Internet companies and high-tech companies were releasing their employees, the atmosphere on the walls of EBay was completely different. The online auction company intends to expand its staff by 2,400 people. EBay, as a website for collecting and selling items, pursued a policy of further growth and development, and today offers its website visitors a huge range of products, from clothing to computers.
Every 60 minutes, 120 personal computers, 10 diamond rings and 1,200 pieces of clothing are sold on the website. The cars are being auctioned off with a hammer blow for an average of three hours.
How Did Ebay Become an International E-Commerce Leader?
1998 Meg Utman became the CEO of EBay. At the time, the company had 30 employees, and revenue was $ 4 million. During its tenure, the number of employees increased to $ 15,000, and EBay’s revenue reached $ 8 billion. Meg Whitman (who ruled until 2007) said his main goal was to maintain the company’s fast-growing environment and flexibility. The success was partly due to the fact that top managers never forgot or ignored their customers, ordinary buyers and sellers.
EBay’s strategic growth plan consisted of a number of chains. First of all, in addition to its auction format, the company acquired the Half.com commissioned goods website, where new and used products are offered at fixed prices. The company added a new button on the site, “Buy it Now”, which allows the visitor of the site to buy the item they like immediately, without waiting for the end of the auction. This action applies to approximately 35% of the products displayed and put up for sale, which significantly increased sales on the site.
EBay had planned to attract about 200 companies as a partner, but in reality the number of its partners was 10 times higher than expected, as EBay allows surprisingly low pay to connect with millions of consumers. In order to develop globally, the company acquired the European shopping site IBazar and allocated funds for the development of its branches in Germany, Canada and the United Kingdom.
Mark Goldstein, a former manager of BlueLightc.com ‘s online Kmart division, says: “Everyone wants their internet business to be like EBay.” Here, online customers come to EBay, where you can find everything.
Every company, from small car dealers to huge companies, has found that EBay is a great platform to sell their products thanks to the growing number of potential daily visitors to this site.
Let’s go back to these amazing numbers.
EBay has 95 million users, spending $ 894 per second.
Most EBay vendors are individuals or small businesses that sell everything from porcelain dolls to open Mercedes cars.
Every day, 2 million messages are added to the EBay online market, more than 10 million price offers are made, and 000 100,000 new people sign up to buy and sell a website.
It currently holds 19 million auctions on EBay, divided into more than 45,000 different categories.
Even a company that sold billiard tables when its company’s profits at EBay became profitable, reaching $ 5 million a year, later closed its store and now sells exclusively online.