Remember the days before eBay? When finding that obscure baseball card, or unique grandfather clock, meant perusing countless antique stores and yard sales?
That all changed in 1995.
The e-commerce company, founded by Pierre Omidya, was originally called ‘AuctionWeb.’
The first item ever purchased was a broken laser pointer, listed by Omidyar himself. The buyer, a Canadian, bought it for $14.83, then restored it.
Nearly 25 years later, eBay has a market capitalization of $29 billion, and the company’s founder now has a net worth of $13.1 billion.
How did eBay grow so fast and soar so high? Watch the video above, and see how creativity and smart acquisitions changed the course of e-commerce history.