eBay

What Does eBay Mean?

eBay is an electronic storefront and online auction market where consumers can shop for virtually anything they need. eBay advertises itself as "The Online Marketplace," and it provides a venue not only for online shoppers to interact but also for online merchants to market and trade their goods. eBay is one of the most heavily trafficked online stores.

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eBay is designed to empower trade on a regional, national and international basis.

Techopedia Explains eBay

eBay allows customers to bid for items in real time through its auction types, such as:

  • Online auction format or otherwise called as auction-style listings
  • Fixed price format
  • Fixed price format with best offer

It is estimated that millions of items are traded each day through eBay’s online auction format. According to the company’s Corporate Fact Sheet for the first quarter of 2011, eBay boasts nearly 96 million active users worldwide.

eBay also owns the financial online transaction enterprise PayPal. For payment processing, along with PayPal, eBay offers various payment methods including ProPay, Moneybookers, and Paymate.

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Margaret Rouse

Margaret is an award-winning technical writer and teacher known for her ability to explain complex technical subjects to a non-technical business audience. Over the past twenty years, her IT definitions have been published by Que in an encyclopedia of technology terms and cited in articles by the New York Times, Time Magazine, USA Today, ZDNet, PC Magazine, and Discovery Magazine. She joined Techopedia in 2011. Margaret's idea of a fun day is helping IT and business professionals learn to speak each other’s highly specialized languages.