Which online marketplace began as AuctionWeb in 1995? The answer is eBay.
Pierre Omidyar launched AuctionWeb in California on September 3, 1995, initially as a personal project. The site let people list items for online auction, an unusual idea when internet commerce was still developing. One early sale was a broken laser pointer, which sold for $14.83.
The service was renamed eBay in September 1997. The name came from Echo Bay Technology Group, Omidyar’s consulting company; because echobay.com was already registered, he shortened the name to eBay. The company later became one of the best-known online marketplaces.
A common mix-up is confusing eBay’s original name with its present business model. Although auctions remain central to its identity, eBay also offers fixed-price “Buy It Now” listings. Craigslist, Etsy, and Amazon are separate services and did not begin as AuctionWeb.