Iranian-American economist Pierre Omidyar is best known as the creator and chairman of eBay, the online auction site. From the end of 1998, the organization boasted 2.1 million members and generated $750 million in sales. Unlike a lot of other high tech entrepreneurs, Omidyar did not set out to become an Internet tycoon. He composed his first computer program at age 14, to catalogue publications for the school library.
He graduated from Tufts University in 1988 using a diploma in computer science and went to benefit an organization that developed Macintosh applications. The company later changed its name to eShop and was bought by Microsoft in 1996. EBay, the multi-billion dollar online auction business that altered ecommerce, all began in the summer of 1995.
To his astonishment, the website brought a lot of buyers and sellers that he soon needed to create a different website dedicated to auctions, which he dubbed eBay. By charging between 25 cents and $2 to sellers for posting their auction notice, and taking a tiny portion of the deal, the business made money by simply setting up a location for buyers and sellers to fulfill.
Omidyar was by this time working for General Magic, an Internet phone endeavor backed by Apple. But, by then his auction website was growing by leaps and bounds. Nine months following the organization ‘s first auction started, he quit his day job to dedicate himself full time to eBay. EBay continued to flourish under the direction of Whitman, who enlarged the firm’s services through new website starts (in Australia, Canada, Germany, Japan as well as the United Kingdom), acquisitions and joint ventures.
From the end of 1998, the eBay boasted 2.1 million members and generated $750 million in sales, enough company to bring the interest of e commerce giant Amazon.com, which began running its own auctions in 1999. Smaller auction websites have joined the fray, as have traditional marketers like clothing companies, who began offering auctions on surplus products. So successful did the online auction website become that some industry observers forecast that Internet auctions would end up being the dominant e commerce version as time goes on.
In January 2000, Omidyar taken his first board place beyond eBay. He joined the board of directors of ePeople, a web-based market for technical support. He later began the philanthropic business Omidyar Network. The endeavor stresses”the essential value of a free and independent press” for a democratic society, in accordance with Omidyar in a statement. Omidyar is wed to Pamela Wesley, using the couple having three kids.