Word: firsts
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Dates: during 1990-1999
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eBay is also one of the Internet's greatest financial success stories. It has defied the 11th Commandment: Internet Start-Ups Shall Bleed Red Ink. It's made money from its first month of operation. After only four years, eBay is worth some $20 billion--more than Sears and J.C. Penney combined--and its stock price has surged 25-fold. The rewards for the key players have been lavish. Whitman, after less than two years at the company, controls shares worth about $1 billion. Skoll's net worth is more than $3 billion. Omidyar's 30% ownership adds...
...eBay succeeded so wildly? A big factor is that eBay was first on the block, locking in buyers and sellers early. The more people flocked to eBay, the more it became the place to be. But the real genius of eBay is its success in building a community--"maybe the most real community on the entire Web," says Whitman. There's no question people like hanging out in eBayland. The site gets more than 1.5 billion page visits a month. And at a time when the Internet mantra is "stickiness"--how long users stay on a website--eBay is cyberspace...
...equivalent of eBay--and folded it into the eBay site. The company also has sites running for the U.K., Canada and Australia. eBay is far ahead in those countries but vulnerable in places where it is less well known--and where one of its rivals could take hold first. "The battle grounds are France, Italy and Japan--the biggest prize, the second largest Internet market in the world," says Whitman...
Omidyar had a typical programmer's view of the Net. He saw it as a freewheeling, authority-defying medium, and he was proud of his fledgling site's noncorporate orientation. "The first commercial efforts were from larger companies that were saying, 'Gee, we can use the Internet to sell stuff to people,'" he says. "Clearly, if you're coming from a democratic, libertarian point of view, having corporations just cram more products down people's throats doesn't seem like a lot of fun. I really wanted to give the individual the power to be a producer as well." eBay...
...brimmed loaders at this 100,000-sq.-ft. eToys warehouse in Commerce, Calif., as another round fired in the retail-vs.-e-tail battle. Christmas is always war in the toy industry, and nowhere more so this year than online, where pure e-tailers like eToys are for the first time fighting on several fronts...