I have been thinking about an article I read on PYMNTS regarding Facebook and its Bay Area almnus eBay. There are a few things at play here which needs to be unpacked – who can acquire eBay, eBay’s decline and does Facebook make sense for eBay’s shareholders.
Pierre Omidyar started AuctionWeb that would become eBay and be a shareholder darling in the early 2000’s. eBay was an catalyst that put online auctions in front of millions of customers who looked for long tail items. Items such as Omidyar’s well documented broken PEZ holders (which turned out to be a myth), stamps, baseball cards and more was the items that drove eBay’s growth. The eBay alumni are found all over the ecommerce ecosystem in various senior roles and some have become investors into ecommerce.