eBay Leads Secondhand Luxury Sales, Adds ‘Certified by Brand’ Program

eBay
EBAY
has come a long way from its modest utilitarian origins of the mid-nineties. Now they are launching a new brand certification program to further cement their reputation as the internet’s preeminent retail resale destination.

Originally called AuctionWeb, eBay was founded by Pierre Omidyar on Labor Day weekend in 1995 when he listed his laser printer for $1, it sold for $14.83. By the time Meg Whitman took the helm in 1998 eBay had revenues of $4.7 million, fueled by frenzied Beanie Baby collectors worldwide. Whitman led eBay’s 1998 public offering with a share price of $18. The IPO made Omidyar an instant billionaire, as the stock price soared to $53 per share on the first day of trading.