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63-400: Bridgespan was launched in 1999 by Thomas Tierney , formerly managing director of Bain & Company , professor Jeffrey Bradach, from Harvard Business School , and Paul Carttar, formerly a vice president at Bain & Company. The organization has received substantial support from Bain, with whom it has maintained a close relationship. The firm has six offices worldwide. Bridgespan grew from

126-545: A United States district court jury found eBay guilty of willful patent infringement and ordered the company to pay $ 35 million in damages after MercExchange accused eBay of infringing on three patents, one of which is used in eBay's "Buy It Now" feature. The decision was appealed to the United States Court of Appeals for the Federal Circuit (CAFC). The CAFC affirmed the judgment of willful infringement, and reversed

189-404: A Vickrey auction (sealed-bid) proxy bid system. Buyers and sellers may rate and review each other after each transaction, resulting in a reputation system. The eBay service is accessible via websites and mobile apps . Software developers can create applications that integrate with eBay through the eBay API. Merchants can also earn commissions from affiliate marketing programs by eBay. eBay

252-568: A classified advertising website, in international markets. It launched in the United States in July 2007. In May 2005, eBay acquired Gumtree , a classified advertising website in the United Kingdom. In October 2005, eBay Inc. acquired Skype Technologies for $ 2.6 billion. ProStores was an e-commerce website hosting company owned by eBay. Formerly known as Kurant StoreSense, ProStores

315-558: A $ 514 million cash investment in Flipkart. Flipkart launched a program to allow its sellers to sell to customers globally in partnership with eBay. eBay reported a gain of $ 167 million on the sale of its India operations. In May 2018, eBay sold its stake in Flipkart to Walmart and relaunched its operations in India. In August 2017, eBay shut Half.com . In October 2017, eBay released image retrieval capability allowing users to find listings on

378-543: A 30% minority ownership interest in Skype, after failing to integrate Skype into the company's online marketplace. Microsoft acquired the entire company for $ 8.5 billion in May 2011. In June 2011, eBay acquired GSI Commerce for $ 2.4 billion. In June 2013, it was renamed eBay Enterprise . In May 2012, RentPath , then known as Primedia, acquired Rent.com from eBay for approximately $ 415 million. In September 2012, eBay introduced

441-400: A business account due to the high web traffic of his website. The monthly price increase from $ 30 to $ 250 prompted Omidyar to start charging eBay users. The website made $ 1,000 in its first month, which was more than it cost to run, and $ 2,500 in its second month. Chris Agarpao was eBay's first employee; he processed mailed check payments. Jeffrey Skoll was hired as the first president of

504-561: A controlling stake in G-Market , a South Korean online retailer, for $ 413 million. In May 2009, eBay launched the Selling Manager Applications program (SM Apps). The program allows approved developers to integrate their applications directly into the eBay.com interface. In November 2009, eBay sold a 70% stake in Skype to a consortium led by Silver Lake Partners and Marc Andreessen at a $ 2.75 billion valuation, while retaining

567-527: A desire by Bain & Company to expand their support of nonprofits. The idea started by doing occasional pro bono work for nonprofits. Bain consultant Thomas Tierney had been involved with nonprofit work since the 1980s. After becoming worldwide managing director, Tierney began to focus his attention on consulting for charities. Between 1995 and 1999, three studies about the nonprofit market were conducted. Establishing an industry concentration within Bain & Company

630-445: A false shipping damage claim with the shipping company, friendly fraud (receiving merchandise and claiming otherwise), returning items other than received, removing parts from an item and returning it for a refund, sending a forged payment-service e-mail that states that he or she has made a payment to the seller's account as proof of payment, making a low bid then using pseudo-accounts to make high nonpaying bids in an attempt at gaining

693-476: A low second chance offer price, damaging a non-refundable item to get a refund by claiming that the seller sent the item already damaged (in cases of buyer's remorse ), and a package redirection scam , in which the return package is filled with garbage and sent to the wrong address. In 2004, Tiffany & Co. filed a lawsuit against eBay claiming that over 70% of the Tiffany silver jewelry offered for sale on eBay

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756-699: A majority stake in Internet Auction Co. Ltd, operator of the largest internet auction website in South Korea. In February 2002, eBay acquired iBazar, a French online auction site founded in 1998, for approximately $ 112 million in stock. eBay entered the Chinese market in 2002 and shut down its Chinese site in 2007 due to competition from local rival Taobao . In February 2002, eBay exited Japan due to competition from Yahoo! Japan and began operations in Taiwan with

819-503: A new logo using a thinner variation of the Univers typeface. It replaced the thicker Univers logo. In October 2012, eBay launched an international shipping partnership with Pitney Bowes whereby a seller of an item to be shipped internationally can send the item to a Pitney Bowes facility in their home country, which then forwards it to the international buyer, taking care of all international shipping requirements. The company also launched

882-723: A one million dollar grant for the first three years, in addition to administrative support and several loaned employees ("externs"). The organization was also initially supported by grants from the Surdna Foundation , Bill & Melinda Gates Foundation , the William and Flora Hewlett Foundation , the Edna McConnell Clark Foundation and the Atlantic Philanthropies . It has advised Bill & Melinda Gates Foundation, Ford Foundation , Bloomberg Philanthropies ,

945-642: A partnership with FedEx to offer discounted shipping options to sellers. In November 2012, eBay was charged in the High-Tech Employee Antitrust Litigation , accused by the United States Department of Justice of entering into non-solicitation agreements with other technology companies involving highly skilled employees. The litigation was settled in May 2014, with eBay required to end anti-competitive practices. On September 30, 2014, eBay announced it would spin off PayPal into

1008-450: A partnership with Square for seller financing loans of up to $ 100,000. In September 2018, in response to the YouTube headquarters shooting , eBay announced plans to install a security fence around the perimeter of its San Jose headquarters to protect employees. In March 2019, the company paid its first dividend following investor pressure to improve shareholder return. On July 31, 2019,

1071-463: A permanent injunction against eBay auctions of LVMH perfumes, whether counterfeit or not. eBay banned such items from its site. Also that month, a court in Troyes, France awarded eBay to pay luxury goods maker Hermès €20,000 due to the sale of two counterfeit bags on eBay in 2006. The court also ordered eBay to post the ruling on the home page of eBay's French website for three months. Items stolen from

1134-504: A separate publicly traded company, a demand made nine months prior by activist hedge fund magnate Carl Icahn . The spinoff was completed on July 18, 2015. eBay's then chief executive, John Donahoe, stepped down from that role. In January 2015, eBay acquired Vivanuncios, a classified advertising website in Mexico. In June 2015, eBay sold its stake in Craigslist back to the company, ending

1197-509: The British Museum in 2013 were auctioned on eBay in 2016. The museum reported that several items of jewelry made of gold, semi-precious stones, and glass, dating from between 1,500 BC and the 19th century   AD, were among those missing. One piece of ancient Roman jewelry made from onyx – valued between £25,000 and £50,000, or US$ 32,000 and US$ 63,000 – was listed on eBay with a minimum price of £40 (US$ 50) in 2016. There were no bids made for

1260-877: The Hoover Institution , The United Way of the Bay Area, the Committee for Economic Development and the WGBH Educational Foundation . He has also served administratively with the Boston Symphony Orchestra . Tierney is still associated with Harvard Business School, where he was appointed chair of the Harvard Business School Social Enterprise Initiative Advisory Board in January 2009. He occasionally lectures at

1323-715: The Rockefeller Foundation , YMCA of the USA , The Salvation Army , and the Sesame Workshop . The group launched its first website, www.bridgespan.org, in 2000 and started operations from a Boston -based office. By fall of 2000, the organization had 27 employees and had opened an office in San Francisco . Their services emphasized analytical consulting. Even with substantial subsidies, the assignments were sometimes too expensive for small charities with foundations often funding

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1386-682: The Smith & Wollensky restaurant in New York City, with all of the proceeds going to the Glide Foundation . Auctions were held annually in 21 years between 2000 and 2022, with no auctions in 2020 and 2021 due to the COVID-19 pandemic . In total, auctions on eBay for lunch with Buffett raised $ 53.2 million for the Glide Foundation, with winning bids ranging from $ 2 million to as high as $ 19 million for

1449-486: The board of directors of Craigslist. Craigslist countersued in May 2008 alleging that eBay used its board seat to gain insider information about Craigslist that was used to compete against the company. In September 2010, Delaware Judge William B. Chandler III ruled that the actions of Craigslist were unlawful and that the actions were taken by Craigslist founders Jim Buckmaster and Craig Newmark had "breached their fiduciary duty of loyalty", and restored eBay's stake in

1512-507: The 1950s is a stub . You can help Misplaced Pages by expanding it . EBay eBay Inc. ( / ˈ iː b eɪ / EE -bay , often stylized as ebay or Ebay ) is an American multinational e-commerce company based in San Jose, California , that allows users to buy or view items via retail sales through online marketplaces and websites in 190 markets worldwide. Sales occur either via online auctions or "buy it now" instant sales, and

1575-515: The CEO of the company. In June 2020, Fred D. Anderson and Thomas J. Tierney resigned from the board of directors of the company; both had been directors since 2003. In July 2020, eBay sold its classifieds business to Adevinta for $ 2.5 billion in cash and 540 million shares of Adevinta. To gain regulatory approval, Gumtree was further divested. eBay sold its shares in Adevinta in 2023, when that company

1638-415: The acquisition of NeoCom Technology for $ 9.5 million. In June 2006, eBay turned over its operations in Taiwan to a joint venture partner. eBay acquired PayPal on October 3, 2002 for $ 1.4 billion. It phased out its Billpoint payment service in January 2003. On May 28, 2003, in the case of eBay Inc. v. MercExchange, L.L.C. , which had implications for the treatment of business method patents ,

1701-474: The book is that there must be ideas relevant to philanthropy that have been proven over time, ideas that were as useful to Andrew Carnegie as they are to Bill Gates . One of the reasons [co-author] Joel [Fleishman] and I teamed up was that he has done extensive research on twentieth-century philanthropy, a lot of which he used in The Foundation ". This article about an American businessperson born in

1764-616: The company acquired a 5.59% stake in Paytm Mall. In September 2019, facing pressure from activist shareholder Elliott Investment Management , Devin Wenig resigned as CEO. Scott Schenkel , senior vice president and chief financial officer since 2015, was appointed as the interim CEO. In November 2019, eBay agreed to sell StubHub to Viagogo for $ 4.05 billion in cash; the sale was completed in February 2020. In April 2020, Jamie Iannone became

1827-434: The company acquired the myFitment group of companies, specializing in online sales of automotive and powersports parts and accessories. In October 2022, the company acquired TCGPlayer , a marketplace for collectible card games, for up to $ 295 million. In July 2023, the company acquired Certiligo, a provider of artificial intelligence -powered digital IDs and authentication for apparel and fashion goods. In January 2024,

1890-417: The company announced plans to lay off 9% of its workforce after hiring outpaced growth projections. Using MissionFish as an arbiter, eBay allows sellers to donate a portion of their auction proceeds to a charity of the seller's choice and charges discounted fees for charity auctions. High-profile charity auctions facilitated via eBay include the "Power Lunch" with investor Warren Buffett for 8 people at

1953-535: The company charges commissions to sellers upon sales. eBay was founded by Pierre Omidyar in September 1995. It has 132 million yearly active buyers worldwide and handled $ 73 billion in transactions in 2023, 48% of which was in the United States. In 2023, the company had a take rate (revenue as a percentage of volume) of 13.81%. eBay is used by individuals, companies, as well as governments to purchase and sell almost any legal, non-controversial item. eBay's auctions use

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2016-491: The company in early 1996. In November 1996, the company launched online auctions for airline seats, hotel rooms, cruise berths and other travel-related products in partnership with Electronic Travel Auctions. By that time, the company had hosted more than 200,000 auctions since its founding 14 months earlier. The company changed the name of its service from AuctionWeb to eBay in September 1997, after Echo Bay Technology Group, Omidyar's consulting firm. The echobay.com domain name

2079-412: The company to 28.4% from a diluted level of 24.85%. However, the judge dismissed eBay's objection to a staggered board provision, citing that Craigslist has the right to protect its own trade secrets. In May 2008, eBay announced the opening of a building on the company's North Campus in San Jose, California , the first ground-up structure in the city to be built to LEED Gold standards. The building,

2142-542: The country's leading online auction platform (EachNet) and reaching an 85% market share. Within four years, the development of Alibaba's Taobao resulted in eBay's market share in China decreasing to 7.7%. In August 2004, eBay acquired 25% of the classified advertising website Craigslist for $ 32 million. Former disgruntled Craigslist executive Phillip Knowlton was the seller. In December 2004, eBay acquired Rent.com for $ 415 million. In March 2005, eBay launched Kijiji ,

2205-528: The couple's home in Natick, Massachusetts . The conspirators pleaded guilty and most were sentenced to prison terms. Wenig, the company's CEO at the time of the harassment campaign, who was frequently targeted by the newsletter and was described as having paranoia over the criticism, was not charged, instead leaving the company in September 2019 with a $ 57 million severance package . Steve Wymer, chief communication officer, who had ties with local politicians,

2268-423: The editors and publishers of EcommerceBytes, a newsletter that eBay executives viewed as critical of the company. In addition to sending harassing messages and doxing , the defendants "ordered anonymous and disturbing deliveries to the victims’ home, including a preserved fetal pig, a bloody pig Halloween mask, a funeral wreath, a book on surviving the loss of a spouse, and pornography". The defendants also vandalized

2331-473: The final auction in 2022. In May 2024, a charity auction for lunch with Marc Benioff , CEO of Salesforce , raised $ 200,000 plus an additional donation of $ 1.5 million for the Glide Foundation. Also benefitting charity, a letter sent to Mark P. Mays, CEO of Clear Channel Communications by Senator Harry Reid and forty other Democratic senators, complaining about comments made by conservative talk show host Rush Limbaugh , sold for $ 2,100,100, with all of

2394-430: The first the company had built in its 13-year existence, uses an array of 3,248 solar panels, spanning 60,000 square feet (5,600 m ), and providing 650 kilo watts of power, 15–18% of the company's total energy requirements, reducing carbon dioxide usage by 37 million pounds over 30 years. The building also has energy-efficient lighting and water system and most waste is recycled. In April 2009, eBay agreed to acquire

2457-413: The greatest possible change with their charitable donations. It advises clients against spreading donations too thinly so "that they have no real impact." Thomas J. Tierney Thomas J. Tierney (born 5 March 1954) is an American business executive and corporate writer, who is the co-founder of the nonprofit Bridgespan Group that provides management consulting to nonprofits and philanthropists. He

2520-767: The initial public offering, which was priced at $ 18 per share and closed for trading on its first day at $ 53 per share, both Omidyar and Skoll became billionaires. In the risk factors section of the annual report filed with the U.S. Securities and Exchange Commission in 1998, Omidyar noted eBay's dependence on the continued strength of the Beanie Babies market. In June 2000, eBay acquired Half.com for $ 312 million in stock. In 2000, eBay partnered with Escrow.com to handle escrow for purchases and sales of motor vehicles, later expanded to other transaction types. By year-end, it had 22.5 million registered users and 79.4 million auctions per quarter. In January 2001, eBay acquired

2583-460: The litigation. In August 2015, eBay sold a portion of its stake in Snapdeal . In September 2015, Propay and Skrill were eliminated as payment methods on the eBay website, citing low usage. Flipkart and eBay entered into a strategic partnership in July 2017 under which eBay acquired a 5.44% stake in Flipkart in exchange for the contribution of its India business unit valued at $ 211 million and

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2646-591: The lower court and granted a permanent injunction . eBay appealed the permanent injunction to the Supreme Court of the United States , which on May 15, 2006 found an injunction is not required nor automatic in this or any patent case where guilt has been established. The case was sent back to the Virginia district court for consideration of the injunction and a trial on another MercExchange patent. In 2003, eBay sought to develop its e-commerce business in China , acquiring

2709-586: The managing director of its San Francisco office from 1987 to 1992. In June 1992 he was appointed chief executive officer of Bain & Company, a post which he held until January 2000, during which time the company grew significantly, venturing into business internationally and generating revenues six times what they had been. In 1998, Tierney co-founded The Bridgespan Group, described by Bloomberg as an "independent, nonprofit affiliate of Bain & Company designed to provide general management consulting services to foundations and nonprofit organizations". He launched

2772-599: The most powerful consultants you've never heard of" which mentioned work with MacKenzie Scott and cited annual revenue of $ 59m and 329 employees in 2000. The Bridgespan Group's website is organized into several learning centers, focusing on particular aspects of nonprofit management, such as hiring, strategy and funding. The site is interactive and includes free access to resources—articles, podcasts , videos, Q&A sessions, as well as several Bridgespan case studies. The website also features an online job board. The organization claims it specializes in helping clients to effect

2835-551: The organization in 1999, and was appointed its chairman. In March 2003, Tierney was appointed an Independent Director at eBay , and he has been its Lead Independent Director since April 2012. Aside from his Bridgespan and eBay position, Tierney has been the Director of The Nature Conservancy , director of the Woods Hole Oceanographic Institution , and has held numerous other posts on non-profit boards, including

2898-461: The platform would end February 1, 2015. In February 2006, Intuit launched a web-based version of ItsDeductible, a donation tracking service, using data from eBay to help users assign a market value to the items they donate. In April 2006, eBay launched eBay Express, a site that was designed to work like a standard Internet shopping site, with fixed prices and no bidding involved. The website had 10 million items listed upon its launch. The site

2961-519: The proceeds going to the Marine Corps-Law Enforcement Foundation, benefiting the education of children of men and women who have died serving in the armed forces. The winning bid was matched by Limbaugh. In 2022, more than $ 163 million was raised for charities via the platform. In June 2020, five employees were terminated and were subject to charges of cyberstalking after they were accused of targeting Ina and David Steiner,

3024-520: The school and has contributed numerous articles to The Harvard Business Review and books, including Forbes 's Learning From The Chief Executive Officer and Aligning the Stars (2002), the latter co-authored with Jay W. Lorsch, which documents business strategy and organization. In 2011, he co-authored Give Smart: Philanthropy That Gets Results with Joel L. Fleishman. Tierney said of Give Smart: Philanthropy That Gets Results : "The basic premise behind

3087-816: The seller), receiving payment and not shipping merchandise, shipping items other than those described, giving a deliberately misleading description or photo, knowingly and deliberately shipping faulty merchandise, denying warranty exchange after pre-agreeing to return merchandise authorization of defective on arrival merchandise, knowingly fencing (selling stolen goods), misrepresenting the cost of shipping, using bulk shipping prices to knowingly mask much higher costing, individual return shipping, and using pseudo-accounts to make high nonpaying bids on similar items that competitors are selling. eBay has been criticized for not doing enough to combat shill bidding. There are techniques such as auction sniping , which let buyers avoid shill bidders. Fraud committed by buyers includes filing

3150-520: The site that match an item depicted in a photo, using artificial intelligence and machine learning technologies. On January 31, 2018, eBay announced that it would replace PayPal as its primary payments provider with Netherlands-based start-up Adyen , resulting in lower costs and more control of merchants. In May 2018, eBay acquired the Japanese e-commerce platform Qoo10 for $ 573 million. In July 2018, eBay announced support for Apple Pay as well as

3213-451: The time, the company had 30 employees, 500,000 users, and revenues of $ 4.7 million in the United States. In July 1998, eBay acquired Jump, the developer and operator of Up4Sale , an advertising-supported auction website which at the time had 27,000 separate auctions and 50,000 registered members. In September 1998, during the dot-com bubble , eBay became a public company via an initial public offering led by CFO Gary F. Bengier . Upon

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3276-448: The treasure. The police are investigating this case. The company said that it is supports local police in investigations and removes listings containing stolen property. In 2021, the estate of Dr. Seuss requested from eBay, and the company complied, to ban the sale of six Dr. Seuss books due to concerns that some images contained therein were racially insensitive. This led to backlash from followers of right-wing politics and ignited

3339-459: The website were Beanie Babies , the most difficult toys to find in retail stores, accounting for 10% of all listings in 1997. Ty , the manufacturer, had set up a website whereby people could trade used Beanie Babies. However, it was overwhelmed with unsortable listings. With a user-friendly interface, eBay became popular with collectors. Meg Whitman was appointed president and CEO in March 1998. At

3402-542: The work for the charities they supported. In 2003, Bridgespan created the "Bridgestar" initiative that focused on leadership development and professional's transition into nonprofit careers. The Bridgestar.org site merged with Bridgespan.org in 2012. In 2005, it received 1,700 applications for 18 positions while claiming that they can only serve 10% of the domestic US demand. In 2007 Bridgespan opened an office in New York . In 2022 The Economist published "Bridgespan Group:

3465-500: Was acquired by private equity firms . In September 2020, Pierre Omidyar resigned from the board of directors, after resigning as chairman in 2015. In November 2021, eBay sold its South Korean business to Emart for $ 3 billion. In May 2022, eBay acquired a stake in Funko and became the preferred secondary marketplace for Funko. In June 2022, the company acquired KnownOrigin, a marketplace for non-fungible tokens . In August 2022,

3528-557: Was acquired by eBay Inc. by the end of 2005 changing the name to ProStores by eBay. ProStores' feature set included simple wizard-driven website, e-commerce capabilities, site design tools and e-business management. Smaller merchants could also manage the entire process of posting and selling products on eBay using the ProStores interface. It also offered inventory management, supplier communication and integration with Quickbooks and Dreamweaver . eBay announced on July 1, 2014 that support for

3591-500: Was already registered by Echo Bay Mines , a gold mining company, so Omidyar shortened it to eBay.com. In 1997, the company received $ 6.7 million in venture capital funding from Benchmark . The frequently repeated story that eBay was founded to help Omidyar's fiancée trade Pez candy dispensers was fabricated in 1997 by public relations manager Mary Lou Song to give the media a human-interest story and to generate publicity with toy collectors. The most purchased and sold items on

3654-661: Was chairman of eBay from July 2015 to June 2020. Tierney is cited by the book Management Consultancy in the 21st Century as a specialist in customer service and marketing. Tierney was born in San Francisco, California in 1954. Tierney earned a BA in Economics from the University of California, Davis in 1976, and an MBA from the Harvard Business School in 1980. He joined Bain & Company in 1980, and served as

3717-664: Was considered and rejected. Instead the decision was made to create an allied, yet still independent, entity called the Bridgespan Group. In 1996, co-founder Jeff Bradach, a business professor and former Bain consultant, joined the company. In 1998, co-founder Paul Carttar, a former Bain Partner, joined. Tierney pitched the idea of forming Bridgespan to his partners in 1999. He emphasized his desire for an ongoing partnership with Bain, which would accrue benefits (e.g., recruitment as well as public relations ). Bain provided Bridgespan with

3780-688: Was fake and that eBay profited from the sales of counterfeit Tiffany items that infringed on its trademark. On July 14, 2008, a Federal District Court judge ruled that eBay does not have a legal responsibility to monitor users selling counterfeit items. In 2010, the Second Circuit affirmed this decision in Tiffany (NJ) Inc. v. eBay Inc. In June 2008, a court in Paris awarded damages of €40 million to LVMH over eBay auctions of counterfeit bags, perfumes, and other items sold by non-authorized retailers and entered

3843-483: Was fired "for cause" for alleged involvement but was not charged and was hired by the local chapter of the Boys & Girls Clubs of America . Fraud committed by sellers includes selling counterfeit merchandise / bootleg recordings , shill bidding (undisclosed vendor bidding that is used to artificially inflate the price of a certain item by either the seller under an alternate account or another person in collusion with

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3906-585: Was founded as AuctionWeb in California on September 3, 1995, by French-born Iranian-American computer programmer Pierre Omidyar as a hobby to make some extra money. One of the first items sold on AuctionWeb was a broken laser pointer for $ 14.83. Astonished, Omidyar contacted the winning bidder to ask if he understood that the laser pointer was broken; the buyer explained: "I'm a collector of broken laser pointers." In February 1996, Omidyar's internet service provider informed him that he would need to upgrade to

3969-596: Was shut down in October 2008. In January 2007, eBay acquired StubHub , an online marketplace for ticket resale , for $ 310 million. In January 2008, Meg Whitman resigned as president and CEO of eBay to enter politics, and was replaced with John Donahoe . Whitman remained on the board of directors and continued to advise Donahoe through 2008. In April 2008, eBay sued Craigslist, claiming that in January 2008, Craigslist took actions that "unfairly diluted eBay's economic interest by more than 10%", making eBay lose its seat on

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