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Omidyar had tried to register the domain name echobay.com, but found it already taken by the Echo Bay Mines, a gold mining company, By early 2008, the company had expanded worldwide, counting hundreds of millions of registered users as well as 15,000 employees and revenues of almost .7 billion.
After nearly ten years at e Bay, Whitman decided to enter politics.
The company officially changed the name of its service from Auction Web to e Bay in September 1997.
Originally, the site belonged to Echo Bay Technology Group, Omidyar's consulting firm.
In his responding email, the buyer explained: "I'm a collector of broken laser pointers." The frequently repeated story that e Bay was founded to help Omidyar's fiancée trade Pez candy dispensers was fabricated by a public relations manager, Mary Lou Song, in 1997 to interest the media, which were not interested in the company's previous explanation about wanting to create a "perfect market".
In addition to its original auction-style sales, the website has since evolved and expanded to include "Buy It Now" shopping; shopping by UPC, ISBN, or other kind of SKU number (via Half.com); online classified advertisements (via Kijiji or e Bay Classifieds); online event ticket trading (via Stub Hub); and other services.The Final Value Fee amounts to 10% of the total amount of the sale, which is the price of the item plus shipping charges.takes from £0.15 to a maximum rate of £3 per £100 for an ordinary listing and up to 10% of the final price.e Bay requires sellers to include the VAT element in their listing price and not as an add-on and thus profits by collecting fees based not only on the sale price "ex VAT" but also on the VAT.
e Bay has already expanded to over two dozen countries, including China and India.In October 2013, e PN launched a new pricing model.