It previously offered online money transfers (via Pay Pal), One of the first items sold on Auction Web was a broken laser pointer for .83.

Astonished, Omidyar contacted the winning bidder to ask if he understood that the laser pointer was broken.

The company officially changed the name of its service from Auction Web to e Bay in September 1997.

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Strategic international expansion has failed in Taiwan and Japan, where Yahoo!

had a head start, and New Zealand, where Trade Me is the dominant online auction website.

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.

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. law, a state cannot require sellers located outside the state to collect a sales tax, making purchases more attractive to buyers.

The resulting price increase (from /month to 0) forced him to start charging those who used e Bay, and was not met with any animosity.

Jeffrey Skoll was hired as the first president of the company in early 1996.

On September 30, 2014, e Bay announced it would spinoff Pay Pal into a separate publicly traded company, a demand made nine months prior by activist hedge fund magnate Carl Icahn. e Bay’s then chief executive, John Donahoe, stepped down from that role.