In 1996, Auction Web hosted 250,000 auctions. In 1996, Omidyar signed a licensing deal to offer airline tickets online. From collectibles, the site quickly expanded into a vast range of saleable items, including furniture, electronics, home appliances, cars and other vehicles.
Business expanded through word of mouth, and Auction Web added a Feedback Forum, allowing buyers and sellers to rate each other for honesty and reliability.
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The revenue soon outstripped his salary at General Magic, and Omidyar decided to dedicate his full attention to his new enterprise. Omidyar incorporated the enterprise the small fee he collected on each sale financed the expansion of the site. The business exploded as correspondents began to register trade goods of an unimaginable variety. Omidyar was astonished that anyone would pay for the device in its broken state, but the buyer assured him he was deliberately collecting broken laser pointers. The first item sold on the site was not a Pez dispenser, but a broken laser pointer. He created a simple prototype on his personal web page, and launched an online service called Auction Web as a sole proprietorship on Labor Day weekend in 1995. In fact, Omidyar was already intrigued by the technical problem of establishing an online venue for direct person-to-person auction of collectible items. In a much repeated story, Omidyar originally created an online auction site to help his wife trade and collect Pez candy dispensers, but in his interview with the Academy of Achievement, Omidyar derides the story as “media-enhanced.” Other eBay spokesmen have since described it as a publicist’s fabrication. While living and working in the San Francisco Bay Area, he met and married Pamela Wesley, a graduate student in biology who later embarked on a career as a management consultant. $500 million worth are sold on eBay alone, representing more than 6% of eBay’s total volume. By May 1997, Beanie Babies, Ty Warner’s line of stuffed animals, take the world by storm. In 1996, eShop was sold to Microsoft, but Omidyar remained fascinated by the technical challenges of online commerce.
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Omidyar worked as a software engineer for eShop until the end of 1994, when he became a developer services engineer for General Magic, a mobile communication platform company. The company included an Internet shopping segment and was later renamed eShop Inc. In 1991, he co-founded Ink Development Corp. Pierre became fascinated with computers while still in high school and graduated from Tufts University in 1988 with a degree in computer science.Īfter graduation, he worked for Claris, a subsidiary of Apple Computer, developing software for the Macintosh. He moved to Maryland with his family when his physician father began his residency at Johns Hopkins University Medical Center. Pierre Omidyar was born in Paris, France to parents from Iran.
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