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An online marketplace (or online e-commerce marketplace) is a type of e-commerce website where product or service information is provided by multiple third parties. Online marketplaces are the primary type of multichannel ecommerce and can be a way to streamline the production process.
eBay office in Toronto, Canada. 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.
1995: eBay is founded by computer programmer Pierre Omidyar as AuctionWeb. It is the first online auction site supporting person-to-person transactions. [85] 1995: The first commercial-free 24-hour, internet-only radio stations, Radio HK and NetRadio start broadcasting.
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Costco launches its own business-to-business online shopping system. [31] 2001 Major launch Online marketplace Newegg, a very prominent online marketplace for technology, launches. [32] 2002 Acquisition N/A eBay.com acquires PayPal for $1.5 billion in stocks. [33] [34] 2002 Major launch Brick and mortar retailer
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The combined entity, initially called X.com, later changes its name to PayPal. PayPal adopts eBay as a key platform to grow its userbase, because of the need for an online payment system on eBay. eBay responds with its own payment service, Billpoint. PayPal competes fiercely with Billpoint, raises a large amount of money, and IPOs in February 2002.
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