- eBay was founded in 1995 by Pierre Omidyar as an online marketplace for consumer-to-consumer and business-to-consumer sales through auction listings. - It has since expanded globally and evolved its business model, utilizing PayPal for secure transactions. Products can now be sold via auction or fixed-price "Buy It Now" listings. - Competition and expectations for faster purchasing and delivery have challenged eBay to transition from solely an auction site to a more full-service retail partner offering various purchasing options.