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Introduction > A Little eBay History

A Little eBay History

You might have heard the story that eBay began as an act of love, invented by Pierre Omidyar as a way for his fiancée, Pam (now his wife), to trade Pez dispensers with other collectors. It’s a nice story, and there’s some truth to it, but things didn’t happen in quite that way.

In 1995, Tufts University graduate Omidyar was working as a software engineer at General Magic, a Silicon Valley mobile-communications company. In his spare time, Omidyar developed Auction Web, an online auction platform. He was interested in the potential for an auction format to create a fair and open marketplace, where the market truly sets an item’s value. In an auction, anyone can bid until the price reaches the highest amount someone’s willing to pay. The market price changes from day to day, depending on demand and who’s bidding.


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