eBay is an Internet auction site and marketplace that was founded in 1995 by Pierre Omidyar. The CEO of eBay Inc., which is publicly traded on NASDAQ, is John Donahoe. From 1998 to 2008, Meg Whitman was the President and CEO. The seat of eBay is in San Jose, Calfornia. eBay has invested in a number of other high technology companies, including Skype which it later sold to Microsoft.
eBay started just as ecommerce started on the internet, and buyers and sellers needed a reliable way to transfer money without disclosing confidential financial data. Many eBay users turned to a new company, PayPal to fill that need. Many customers used both as eBay and PayPal grew in popularity. In July 2002, PayPal went public. On October 3, 2002, PayPal became a wholly owned subsidiary of eBay. PayPal is based at eBay headquarters in San Jose and also has significant operations in Omaha, Nebraska, Scottsdale, Arizona, Charlotte, North Carolina, Austin, Texas, and Boston, Massachusetts; Chennai, India; Dublin, Ireland; Kleinmachnow, Germany; and Tel Aviv, Israel. Since July 2007, PayPal has operated across the European Union as a Luxembourg-based bank.
On September 30, 2014, eBay Inc. announced it spin PayPal off into an independent public company by the end of 2015.
- MSNBC: eBay CEO Meg Whitman to retire, Jan. 23, 2008, retrieved on 10/14/2008
- Troy Wolverton (October 3, 2002). It's official: eBay weds PayPal. CNet. Retrieved on February 6, 2015.