Business Services Industry
eBay Exceeds 21 Million Bids; Leader in Person-to-Person Online Auction Site Sets the Pace in Fast-Growing Industry
Business Wire, Jan 20, 1998
SAN JOSE, Calif.--(BUSINESS WIRE)--Jan. 20, 1998--eBay(tm), the leading person-to-person online auction site (www.ebay.com), today announced that it had exceeded 21 million online auction bids and completed more than 5 million auctions since the company's inception in 1995. Currently, eBay receives 120,000 bids per day and hosts more than 200,000 auctions a day, on average. More than 80 percent of the listed items are sold.
With more than 400,000 registered users, eBay generated more than $105 million in gross merchandise sales in 1997. In the fourth quarter alone, eBay completed $55 million in sales.
"eBay users represent the largest and most active trading community on the Web," said Pierre Omidyar, eBay founder and CEO. "Once users find eBay, they come back time and time again, because we are the proven leader in person-to-person online auctions."
According to Media Metrix, the leading Web audience measurement company, eBay is one of the top 12 most-visited online shopping sites on the Web and experiences longer visits per user than any other Web site on the Internet.(1)
"Auction sites have been able to foster stronger customer relationships through their sales formats, resulting in larger customer bases and longer-length user visits," said Nicole Vanderbilt, group director of digital commerce at Jupiter Communications, a New York-based market research firm.
About eBay
Headquartered in San Jose, Calif., eBay is the pioneering leader of person-to-person online auctions. eBay hosts auctions in 371 categories, including collectibles, antiques, memorabilia, trading cards, toys, dolls, coins, stamps, books, magazines, jewelry and gemstones. eBay receives over 120 million page impressions per month. More than 30,000 new items are added daily. -0-
(1) According to Media Metrix Inc., November 1997 Audience Ratings Report Based On U.S. Web Users From Home
CONTACT: Schwartz Communications, Inc.
Jeff Goldman, 415/512-0770
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