eBay is a name and service we are all familar with, but most of us are unaware of how eBay came to be a internet sensation and who the clever entrepreneur is behind this brainchild.  What started out as a simple and small auction website has since become the #1 auction site on the internet!  This week in the spotlight we take a look at entrepreneur Pierre Omidyar, who founded the popular online auction site known as eBay and just how he did it.

Summary:

Name: Pierre Omidyar
Age: 42
Location: United States
Claim to fame: eBay (online auction site)
Initial cost: < $1000

How He Did It:

Pierre Omidyar started life out in Paris, France.  He later moved with his family during his teenage years to the United States.  Once he obtained his degree in Computer Science, he began working for an Apple Inc. subsidiary.  Omidyar was 28 when he developed the basis for what is now known as eBay.  The site went live in September of 1995 and gradually the popularity grew.  Omidyar began to enhance the site and started to bring in others to help out in order to account for the growing demand in his soon to be company.  eBay has since become a mega success with Omidyar’s net worth amounting to about $2.6 billion as of today!  What started out as a simple buy/trade auction site has morphed into one of the top sites on the internet to date.  No bad for someone who didn’t set out with any of this in mind!

Lessons Learned:

• You never know what’s going to happen until you try (Pierre Omidyar had no idea his auction site would turn into mega success eBay)
• Start small and evolve over time with your audience (Omidyar concept was simple to start and grew to meet user needs over time)
• Everyday problems are great to consider when developing a product on the internet.  It makes the reach for potential users much higher.
• Dont be afraid to reach out for help to fill the gaps between your skills and your vision.
• Listen to your users and keep them at the front of your work.

Did you miss last weeks spotlight? Check it out here: The Entrepreneur Spotlight: Stewart Butterfield


Be on the lookout for our next entrepreneur spotlight article in this ongoing series. In the meantime, be sure to leave a comment and let me know what you think about the success of this week’s entrepreneur.


Sources:

• Cohen, Adam (2002), The Perfect Store: Inside eBay.
• Viegas, Jennifer (2006), Pierre Omidyar: The Founder of eBay.