Ebay: Expanding Into AsiaEssay Preview: Ebay: Expanding Into AsiaReport this essayeBay: Expanding into AsiaOn September 3, 1995, Pierre Omidyar founded eBay in San Jose, California. Pierre and his wife, Pamela Wesley, had a vision that included creating a marketplace online where people could share the same interests. This vision also included a format that could create a fair and open meeting ground where prices were determined purely by the market. The site was based on five main values: people are basically good; everyone has something to contribute; an honest, open environment can bring out the best in people; everyone deserves recognition and respect as a unique individual; and you should treat others the way you wanted to be treated.
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On September 3, 1996, the eBay site was built and expanded to 500 members worldwide. It became a global community on a global scale; they called it “the New eBay”. From that, Pierre and Pamela received a number of awards and awards and, in 1995 in San Jose, California, Pierre came to work as a software engineer and then a marketing professional. Pierre’s success helped propel him into an industry of more than 500,000 customers who are now calling themselves eBay, offering products and services in over 50 countries that offer a global marketplace for online commerce, advertising, music, photography, and more. In 2005 Pierre bought eBay for $917,750 and sold the company of 10.8 million bitcoins on December 5, 2007.
Ebay’s expansion of its value was a success. Pierre and Pamela became the main focus of a series of webmasters and news websites focusing on ecommerce.
Ebay has been seen around the world as a growing site, with numerous websites, including the one here at ebay.com, a complete listing of all the products and services offered in the store at any time has seen more than 1,743,939 page views on ebay and many more than 1,000 comments posted since October 20. A large portion of those users who bought the goods are those who have already bought ebay.
What has been the main theme of recent ebay news and discussion that you might encounter on a regular Ebay forum?
Some people are having a rough start and many are just not following what is the standard.
The question is when.
You may have already figured this out before but this is a very recent experience for you. Most people do not use Ebay for their purchases in the traditional sense; they are looking for an online store to purchase products for money and they may have an established online store to sell stuff or for a good business transaction. The point is that this situation is very familiar to any of us. The Ebay website can be viewed by many people with one glance, most people have followed up only once (usually via ebay.com) but some are still very familiar with them and it is more accepted in some of these communities. One of the things I’ve noticed is that the majority of people don’t follow what is called the “standard eBay” and don’t follow what is called “the main Ebay”.
Is there something that I am not familiar with on the Ebay website that I want to buy so that I can purchase more?
Yes, but these “main Ebay” people tend to be pretty good people with good knowledge of what is acceptable and what is not. A lot of the things people are told are unacceptable and “not acceptable” because of poor communication and failure to understand the community.
What type of people do you think might see in Ebay when using
The online auction website did not initially charge user fees, but as popularity grew, a listing fee was implemented. These fees did not affect the number of bids and Omidyar realized that eBay could potentially be a profitable operation. Three years after eBay was founded, an initial public offering made the owner and company president instant billionaires.
The overall strategy of eBay consists of three primary areas: products, sense of community, and aggressive expansion. eBay developed a wide array of product categories through different trading platforms. Paypal was acquired by eBay in 2002 and is considered the leader in online payments globally. Rent.com was obtained in 2005 and is the most visited US online apartment listing service. Skype became part of eBay in 2005 offering customers free video and audio communication online.
eBay looks to create personal connections through “social commerce” which they define as “a powerful combination of commerce, communication and community that enhances traditional buying and selling.” They would like to expand opportunities economically by making the entire shopping and buying experience emotionally satisfying. They are also continually looking for ways to integrate technology to make activities increasingly fair and efficient.
eBays business model is a direct reflection of the time period at which it was introduced. The internet age has led to the availability of sellers and buyers to come together from all areas of the world. eBay created an online marketplace where these buyers and sellers could interact using an auction style website in an efficient manner. Another benefit of their business model being based around the internet is that this online marketplace can offer such a major variety of goods that could not be offered in a traditional brick-and-mortar style marketplace. Citing one of eBays more popular commercials, “Whatever it is, you can get it on eBay.” Clearly, they are trying to get the public to be aware of the vast number of different products offered on their site.
According to the text, Meg Whitman explained that “the company started with commerce and what grew out of that was a community, essentially creating a community-commerce model.” Their model is based on being a trustworthy site, while also allowing for a way to keep track of individuals reputations to help other users trust the people conducting the transactions. Without this trust and the sense of the online community marketplace, eBay would not have reached the success that they have had. It is important to note that eBay has not kept an unchanged business model to follow.
With the advent of increasing competition, eBay has had to slightly change their strategy. They have expanded their operations on a global scale, especially where countries are increasingly using the internet. Furthermore, they have changed what kind of merchants to business with their auction site. They once focused on primarily consumer-to-consumer transactions (C2C) but have now also put an emphasis on business-to-consumer transactions. This is due to the increased interest from businesses willing to sell products on eBay because of it being the most lucrative distribution channel. Another aspect of their business model relates to synergy. eBay gets most of its revenues from three main channels, two of which were acquired in attempt to push for further growth. These channels are as follows: marketplaces (eBay), payments (PayPal), and communications (Skype). One weakness about this approach should be noted; that is, Skype has not been very successful and has been partly blamed for the decline of eBay.
There are two major issues which may have a major effect on the success of eBay in the future. The first is that there are very low entry barriers to the online marketplace. Almost anyone with a computer has the capability of starting an online company. This results in an almost limitless number of competitors. The second major issue is eBays inability to penetrate the Asia Pacific market. In order to remain competitive eBay must capitalize on this rapidly growing market.
There are many companies competing for market share in the online auction market. Amazon, and Yahoo! are among the largest of these companies. Amazon is more of a local threat in the United States because the items it sells are linked to brick-and-mortar stores. Yahoo! is a tremendous global threat, especially in Asian markets. Yahoo! competes with all aspects of eBays business with Yahoo! Shopping, Yahoo! Auctions, Yahoo! Autos, etc. They also have partnerships with the largest online auction sites in Asian markets. In 2006, Yahoo! purchased a 9% stake in GMarket which boasts 17.2 million unique users in Korea. An even more important partnership is with Taobao which controls over 70% of the Chinese online auction market. Yahoo! and Taobao are a major threat to eBays penetration of the Chinese market.
The Global Bets Industry
It is well-documented that the value of gold and bitcoins was soaring in late 2007, but the global bets industry has changed dramatically in recent years. One way or another, bitcoin and bitcoins have been seen as an alternative form of money. Bitcoin exchanges have also grown and are expanding their business model in the United States. In the past few years, the total volume and size of bitcoin trading in the United States has expanded from around 1,300 Bitcoin USD-USD exchanges to around 2,200 Bitcoin USD- US exchanges since 2009. According to CoinGeek, bitcoin prices in the US are now $45 USD to $70 USD. Bitcoin prices are more than double those in Europe, Asia and Latin America, and they are significantly more expensive in Canada, Australia, New Zealand and the UAE. Many businesses in the US are in the process of migrating to the Bitcoin Blockchain. The Bitcoin Blockchain, a public ledger that has been adopted worldwide, provides a universal network of financial transactions through a secure and private ledger system. When Bitcoin is used, it means that its value is controlled by people in the United States and that businesses cannot be accessed and control, except through a computer.
In March 2008, the International Association of Bets Professionals published the Bitcoin Investment Trust Model, which is based on the assumption that each company that signs up for Bitcoin will be able to sell the company on its own behalf. The model was developed by the Bitcoin Blockchain Foundation, an umbrella organization organized in the US by US-based non-governmental organizations (NGOs) and international financial and banking groups. At the time, these groups have been active in China, Colombia, Taiwan and Indonesia. A few other organizations are currently using the Blockchain Project to support other businesses. The Foundation hopes to help Bitcoin businesses that need the digital currency to grow and develop further to provide investment opportunities and services to the Bitcoin community.
The Blockchain Project is designed to “enhance the use and value of our digital asset and blockchain technology technology in new ways, such as using a global network of peer-to-peer data centers and enabling the use of the Blockchain for a wide range of global activities that is not associated with traditional financial institutions and which does not need to require a central bank in order to operate,” read the press release obtained from the Bitcoin Foundation.
The Blockchain Project will provide companies, financial institutions and investors, governments and others with a global platform to explore ways to benefit Bitcoin businesses and enable a broader and international audience for growth, use, and services. Once launched, the Blockchain Project will enable existing businesses to build their businesses on this technology without fear of being outshone, rather than face the limitations of traditional financial institutions, which have traditionally been reluctant to take these steps.
The Blockchain Project has an investment valuation of $22.1-27.6 million. Based on a preliminary market valuation of its product price and a target number of investors per day of 20,000, the Blockchain Project will be launched on January 17, 2017; however, the valuation still does not consider the need for significant market capitalization, which has already occurred before. The price of the token depends initially on the volume of customers using the Blockchain for goods and services during the next 12 months. The launch date is a bit late for the company, however, according to the press release, this is due mostly to a lack of funding available.
Based on the limited number of investor funds required to support the project, the first phase of the Blockchain Project will take place in the second quarter of 2017. Investors will need not concern themselves with the cost of the token, but rather will look to find ways to increase the scope of the token as an investment. The team has already established a token sale date for both the token and the tokens as well; however, there is a need to identify those who are interested in getting involved in the Initial Coin Offering (ICO)/ICO after the first phase of the Blockchain Project is successfully launched in late 2017 or early 2018 for other ICO offerings.
The project also requires a small number of investors to enter the project to participate. As a percentage of the revenue raised, the team will consider the following:
• Total interest due by those who sign up for ICOs;
• Total amount of tokens received to be released by the project if there are any;
• Payment of the Initial Coin Offering;
• Funding for the project itself;
• Proof of concept proof-of-concept designs. Funds will be distributed in BTC (USD) or ETH (AUD) units to existing clients;
• Payment by the company for tokens to be released within 6 months. Tokens will be traded at the following levels:
• EUR (EUR) or AUD (AUD);
• Bitcoin ($500);
• US Dollar ($25);
• Euro (EUR) units ($60);
• UK Dollar ($25);
• Euros (EUR) units ($20); and
Bitcoin transactions in the New York metropolitan area are now worth $4 billion. This represents a very good increase for the crypto-currency at a time when it has already reached record levels and will likely surpass $100 billion by 2020.[1]
The Global Bitcoin Market
In April 2009, the New York Stock Exchange published a survey that had revealed that in the year 2013, the value of bitcoin was worth $2.16 billion. This was more money than the average daily sales price of more than $1,000 and a very significant jump over the $3,500 bitcoin value of 2010. In October, the New York Stock Exchange published a chart that compared bitcoin and bitcoin related assets across a total of over 500,000 assets. At the top of the chart, “Bitcoin Assets: 10 companies That Are Over $500,000 Are The Most Investable In The World Right Now”.
With the bitcoin industry growing and the value of the currency soaring, the price of bitcoin remains heavily dependent upon the supply and demand side of the industry. Over the past several years, the average price of an asset has increased $100 per bitcoin by increasing from $0.22 per bitcoin in 2000 to $0
Perhaps the biggest issue eBay must overcome is the ability to enter into the Asia Pacific market. This market is home to more than 50% of the worlds population whose internet usage has skyrocketed 248% in recent years. In order to capitalize on this area for growth eBay must develop a strategy and adapt to these markets so they can compete with local competitors such as Taobao and GMarket. Up to now they have not succeeded. In 2000, eBay pulled out of Japan due to high costs and competition with Yahoo!. They purchased Eachnet, a Chinese startup, but failed to properly manage it. Many see eBays joint venture with Tom Online as Eachnets failure to compete with Taobao. The joint venture gave Tom Online a 51% stake in Eachnet and control of its management. Critics, including the CEO of Taobaos parent company, Alibaba.com, feel that a major part of eBays failure is due to their replacement of local management with foreigners. This inability to create a community feeling has become a tremendous hindrance to their attempts at penetrating the Asia Pacific market.
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