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On Labor Day weekend in 1995, computer programmer Pierre Omidyar wrote the code for what he called
 an "experiment": What would happen if everyone in the world had equal access to a single global marketplace?



Pierre tested his new auction website by posting a broken laser pointer, which he was about to throw away. And to his surprise, a collector bought it for $14.83. The sale of a broken laser pointer was the beginning of a radical transformation in commerce.

eBay is a remarkably efficient market created by connecting individuals who wouldn't otherwise be connected. It was the world's first example of online social networking. While skeptics questioned whether people would trust doing business with strangers online, Pierre firmly believed that people are basically good, and that any issues would work themselves out by the community.

Since then, eBay has grown to have a presence in 39 markets (including partnerships and investments) with more than 88 million eBay.com users worldwide, trading more than $1,900 worth of goods each second. In 2002, the eBay community made it clear that they preferred using PayPal as an online payment method. So eBay acquired PayPal, which brought new efficiencies to e-commerce and redefined possibilities for eBay's future.

The company has since expanded by acquiring innovative businesses, such as Shopping.com, StubHub, Bill Me Later and others, which have positioned the company as the global leader in e-commerce and payments.

http://www.ebayinc.com/list/milestones www.ebay.com