preview

You Are an Investment Analyst Essay

Good Essays

You Are an Investment Analyst

Amazon versus eBay

Angelia Bradley

Professor Timothy Carr

Financial Accounting

December 11, 2012

Amazon versus eBay
Jeff Bezos, founded Amazon.com in 1994 when he left his job as Vice-President of the Wall Street firm D.E. Shaw to move to Seattle. After reading a report that projected annual Web growth at 2.300 percent he launched his website in 1995. He began drawing up a plan to sell a list of products on the internet. Bezos narrow his list to five most common products: compact discs, computer hardware, computer software, videos, and books. The $40,000 investment from Nick Hanauer and $100,000 from Tom Alburg help created a more user friendly website that we used today. …show more content…

By doing this, it created profits for everyone involved and Amazon was back in business. On Labor Day, Monday, September 4, 1995, Pierre Omidyar, a 28 years-old software developer, who previously worked for Claris, develops software for Apple computers started eBay from his home. Omidyar first called his website Auction Web because he was told that was his first choice for a website name with the concept of auctioning. The first item he placed to auction was a broken laser pointer. He received a bid and sold for $14.83. Omidyar was very shocked when the item sold and realized that he had created something extraordinary. The website began to grow and gain great familiarity. Omidyar tried to register the site under the domain echobay.com. It was already in usage, so Omidyar decided to shorten the name to eBay.com which originated from Echo Bay Technology. The website is now ready for business and later became a leader in Internet revenue. Items on eBay are listed by categories and anyone with an eBay account can bid on the items. You can find anything on eBay, including cars, real estate, collectibles, concert tickets, CDs, clothing, DVDs, artwork and etc. When items are listed for auction on eBay it can be seen by millions of people all over the world.
According to Swartz (2006) implied that emphasis on eBay was the customer. The nature of online auctions required that strangers trust each others. EBay worked very

Get Access