FACT FOOD #199

eBay, an MNC and e-commerce company was founded by Iranian-American Pierre Omidyar in 1995 and was first called Auction Web. It started as a part-time hobby until one day his Internet service provider informed Pierre to upgrade his internet account due to the increased traffic volume to his website. This increase in price gave an opportunity to make it into a business and there was no stopping from there. The company went public in 1998 and Pierre Omidyar became instant an billionaire.