LUCK AND TIMING
I have always been fascinated by the stories of these now huge companies and the risk and luck that went into forming them. These companies were the lucky ones who started at the right time and were very lucky to do so due to the huge risk involved at the time in starting up companies bases on radical new ideas.
DEFINITION
E-business derived from such terms as "e-mail" and "e-commerce," is the conduct of business on the Internet, not only buying and selling but also servicing customers and collaborating with business partners.
One of the first to use the term was IBM, when, in October, 1997, it launched a thematic campaign built around the term. Today, major corporations are rethinking their businesses in terms of the Internet and its new culture and capabilities. Companies are using the Web to buy parts and supplies from other companies, to collaborate on sales promotions, and to do joint research. Exploiting the convenience, availability, and world-wide reach of the Internet, many companies, such as Amazon.com, the book sellers, have already discovered how to use the Internet successfully.
IBM
Louis Gerstner, the former CEO of IBM, in his book, Who Says Elephants Can't Dance? attributes the term "e-Business" to IBM's marketing and Internet teams in 1996.
Electronic business allows companies to link their internal and external data processing systems more efficiently and flexibly, to work more closely with suppliers and partners, and to better satisfy the needs and expectations of their customers.
Electronic business allows companies to link their internal and external data processing systems more efficiently and flexibly, to work more closely with suppliers and partners, and to better satisfy the needs and expectations of their customers.
EBay
The online auction website was founded as AuctionWeb in San Jose, California, on September 3, 1995, by French-born Iranian computer programmer Pierre Omidyar as part of a larger personal site. In 1997, the company received approximately $5 million in funding from the venture capital firm Benchmark Capital.
The very first item sold on eBay was a broken laser pointer for $14.83. Astonished, Omidyar contacted the winning bidder to ask if he understood that the laser pointer was broken. In his responding email, the buyer explained: "I'm a collector of broken laser pointers.". The frequently repeated story that eBay was founded to help Omidyar's fiancée trade Pez Candy dispensers was fabricated by a public relations manager in 1997 to interest the media.eBay went public on September 21,[8] 1998, and both Omidyar and Skoll became instant billionaires.[6]
The online auction website was founded as AuctionWeb in San Jose, California, on September 3, 1995, by French-born Iranian computer programmer Pierre Omidyar as part of a larger personal site. In 1997, the company received approximately $5 million in funding from the venture capital firm Benchmark Capital.
The very first item sold on eBay was a broken laser pointer for $14.83. Astonished, Omidyar contacted the winning bidder to ask if he understood that the laser pointer was broken. In his responding email, the buyer explained: "I'm a collector of broken laser pointers.". The frequently repeated story that eBay was founded to help Omidyar's fiancée trade Pez Candy dispensers was fabricated by a public relations manager in 1997 to interest the media.eBay went public on September 21,[8] 1998, and both Omidyar and Skoll became instant billionaires.[6]
Amazon
Jeff Bezos founded Amazon.com, Inc. in 1994 and launched it online in 1995. It started as an on-line bookstore but soon diversified to product lines of VHS, DVD, music CDs and MP3s, computer software, video games, electronics, apparel, furniture, food, toys, etc. Amazon has established separate websites in Canada, the United Kingdom, Germany, France, China, and Japan. It also provides international shipping to certain countries for some of its products.
On January 15, 2009, a survey published by Verdict Research found that Amazon was the UK's favorite music and video retailer, and came third in overall retail rankings.
The domain amazon.com attracted at least 615 million visitors annually by 2008 according to a Compete.com survey. This was twice the numbers of walmart.com.
Jeff Bezos founded Amazon.com, Inc. in 1994 and launched it online in 1995. It started as an on-line bookstore but soon diversified to product lines of VHS, DVD, music CDs and MP3s, computer software, video games, electronics, apparel, furniture, food, toys, etc. Amazon has established separate websites in Canada, the United Kingdom, Germany, France, China, and Japan. It also provides international shipping to certain countries for some of its products.
On January 15, 2009, a survey published by Verdict Research found that Amazon was the UK's favorite music and video retailer, and came third in overall retail rankings.
The domain amazon.com attracted at least 615 million visitors annually by 2008 according to a Compete.com survey. This was twice the numbers of walmart.com.
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