Word: ebay
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...face value, or a little above. However, these benevolent e-mails were immediately followed by those from “entrepreneurial” students, who offered their tickets at a few hundred percent above face value. In some cases they even set up bidding wars, either officially on eBay or through the abbreviation OBO—“Or Better Offer.” These students are not entrepreneurs; they are extortionists...
...internet, in all its democratizing, transparent, instantly gratifying glory, is fundamentally changing the rules of business. Bloggers are usurping the role of the media lite; eBay and Amazon are forever altering the relationship between buyer and seller; a single disgruntled customer with a website can ruin a company's reputation. Google, which now handles some 70% of U.S. Internet searches and has become one of the world's most trusted brands, sits at the nexus of these changes. If beleaguered captains of industry hope to survive in the Internet age, Jarvis argues, it's worth considering what Google might...
...September the town of Lewes in Sussex, England, issued the Lewes Pound - complete with a special-edition beer from Harvey's, a local brewery, to celebrate the introduction. There was an immediate run on the currency, limiting its circulation; Lewes Pounds were going for 35 pounds sterling on eBay. The organizers quickly went back to press and dealt with the situation. As Witt is the first to say, "Local currencies are not easy...
...having a Buy It Now price for most products and has reduced the fees to list items, while taking a bigger cut if a product sells. "We've done exactly what our sellers wanted, and sure enough, they are listing a lot more," says Donahoe. "The selection on eBay has never been greater...
Next Donahoe clamped down on fraud to build trust to keep customers coming back. "In the Meg Whitman days, eBay didn't have any customer service," says Lindsay of Sanford C. Bernstein. "If something went wrong, it was tough luck, buddy." Today if a buyer pays for the transaction through PayPal--a payment company owned by eBay that has seen tremendous growth--the sale is guaranteed for the full price...