Word: whitmans
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eBay had a first choice for its new CEO: Meg Whitman, who had honed her consumer-marketing and managerial skills at Hasbro (Mr. Potato Head was one of her toy lines) and worked as a marketing executive at Disney. At first it didn't look as if she was going to come. She had strong ties to the East Coast--kids in school and a husband who was a top brain surgeon at Massachusetts General--and eBay seemed like a lark. But looking at the numbers and getting a sense of the passion people felt for eBay, she was hooked...
...Whitman started imposing discipline fast. She whipped the finances and infrastructure into shape and got the company ready to go public. Within months of her arrival in early 1998, she was leading an eBay team on a road show to win over investors. On Sept. 24, 1998, the initial public offering took place, with shares offered at $18; by the end of the day the price had bounded up more than 160%, to $47. Omidyar, Skoll, Whitman and the rest of the eBay staff were suddenly rich. Back at the office, conga lines snaked through the hallways...
...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 up to more than $5 billion...
...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 superglue. Each visitor to Amazon.com spends an average...
...Davis Walker Lydia L. Walsh Timothy T. Wang Robin M. Wasserman Pamela S. Wasserstein Ashley F. Waters Chad-Affonso Wathington Laura M. Weinrib Talya M. Weisbard Taharee A. Webb Nicholas P. Weiss Eric D. Werker Peter J. Wertheim Lauren A. Wetzler Elizabeth E. White Jared S. White Tobie E. Whitman Lauren A. Wiebe David A. Williams James S. F. Wilson Thomas P. Windom Kathryn J. Wink Sarah H. Winkeller Jonathan C. Wintrode Thomas J. Withrow David A. Witken Emily B. Wong Colin H. Wood Michele Woodbury Janson Wu Timothy F. Wyant Kelly M. Yamanouchi James L. Young Lauren M. Young...