eBay is a multinational American e-commerce firm with headquarters in San Jose, California, that enables both business-to-business and consumer-to-consumer purchases through its website.
Buyers can access the website for free, but sellers must pay to list products after a set amount of free listings and another, separate price when the items are sold.
Who Owns eBay?
eBay is majority owned by The Vanguard Group. The Vanguard Group owns 9.7% of eBay which translates to 53,238,065 as of June, 2022.
BlackRock & State Street Corporation are other large owners of eBay, they both own 8.05% and 4.45% of the e-commerce company.
Who founded eBay?
eBay was founded by Pierre Omidyar as The AuctionWeb in 1995. The AuctionWeb was started in California on September 3, 1995, as a section of a bigger personal website, by French-born Iranian-American computer programmer Pierre Omidyar.
In September 1997, the business changed the name of its service from AuctionWeb to eBay in honour of Omidyar’s consulting business, Echo Bay Technology Group.
Due to a gold mining corporation already owning the domain name echobay.com, Omidyar abbreviated it to eBay.com. The venture capital firm Benchmark Capital provided $6.7 million in funding to the business in 1997.