EBAY 1998 Model Book

eBay Inc. (EBAY) is a global e-commerce marketplace that connects millions of buyers and sellers across more than 190 markets. 

The company offers a platform where individuals and businesses can list items for auction, or offer them with “Buy It Now” pricing. 

Founded in 1995 and headquartered in San Jose, California, eBay has evolved from its auction-site roots into a broad commerce ecosystem focused on value, niche/collectible items, refurbished goods, and small business sellers. 

Its revenue model is driven by fees on listings and transactions, advertising on the platform, and value-added services for sellers. 

eBay emphasises enabling economic opportunity through its technology and marketplace scale, with a particular focus on second-hand goods, unique items and empowering sellers of all sizes.

eBay Inc. went public on September 24, 1998, at an initial offering price of $18 per share (adjusted for stock splits). The IPO was managed by Goldman Sachs and quickly became one of the most successful offerings of the late 1990s dot-com era.

Shares surged on the first day of trading, closing at $47.38 — a gain of more than 160%. This rapid rise reflected strong investor enthusiasm for emerging internet companies and confidence in eBay’s online auction model.

At the time of its IPO, eBay had only about 30 employees and fewer than half a million users, yet it was already profitable — a rare trait among dot-com firms of that period.

The successful debut made eBay’s founder Pierre Omidyar a billionaire overnight and positioned the company as one of the early icons of the internet economy.