Enterpreneurship: eBay

Part A

Pierre Omidyar is the one of the well known entrepreneurs across the world. He formed eBay which today is one of the well known e-commerce company. Mentioned entrepreneur was born in the year 1967 on 21st June. It is an American billionaire entrepreneur. Pierre Omidyar is known as a software engineer and philanthropist across the world. He becomes a successful entrepreneur at age of 31. Pierre parents were Iranians who went to France for higher education. When Pierre was child its family moved to the USA (Pierre Omidyar., 2020). At childhood age he starts taking an interest in computer and due to this reason he planned to make a career in the IT sector. He completed his graduation from the Tufts University with a bachelor degree in computer science. Graduation was completed in the year 1988.

In order to gain work experience Pierre joined company Claris, which was a subsidiary of the Apple. There he works with a team that intended to upgrade Mac Draw to Mac Draw 2. In the year 1991 he founded a company Ink Development which was basically a pun based computing start up. Ink Development further rebranded to the e-commerce company known as shop inc. Later this company was purchased by the Microsoft for an amount less than $50 million (Gartner, Maresch and Fink, 2015). So, basically it can be said that Pierre was from at an early stage in its career have the entrepreneur mindset.

The main reason behind this was its love towards computer and software. This love motivates him to do different things and something new by using IT technology. At age of 28 Pierre start writing its original computer code or an online venue to enable the listing of a direct person-to-person auction of collectible items. In the year 1995 he launched an online service called auction web which at last become eBay which we know today. In the year 1997 the name was changed from Auction web to eBay. As an entrepreneur Pierre faced some startup barriers like lack of finance and management expertise. Firm secure funds from the venture capitalist firm (Malen and Marcus, 2017). The venture capital firm provides CEO to the company and also assist Pierre in developing management team.

Pierre in order to expand the business at a fast pace and to improve its technology base acquire multiple companies. These firms can be classified in categories of online auction, E-commerce, payment systems, online marketplace, electronic commerce, classified advertising. These categories further expand to software for voice and video calls, online risk management, price forecasting and inventory management as well as machine learning. Most popular acquired companies by Pierre are Rent.com, Billpoint, Fraud sciences, Positronic. Inc, Decide.com, Expert Maker and Flipkart (Agogue, Lundqvist and Middleton, 2015). 6 traits that Pierre has been focused, big picture, creativity, caring, and education, passionate. These are explained below.

 

 

On review of definition, it can be said that one who can capitalize opportunity in terms of technology and can work on the knowledge intensive idea is considered as a technology entrepreneur. Literature is congruent with definitions. This is because Pierre consistently identifies opportunity in terms of technology in the market. He always try to innovate eBay business operations by making changes in technology by making use of machine learning. Creativity, education factor and passion are the three forces that motivate Pierre to identify what new can be done with the existing knowledge and technology base. This lead to the development of competitive advantage in the business.

 

Reference:

Books and Journals:

Agogue, M., Lundqvist, M.. and Middleton, K. W. 2015. Mindful deviation through combining causation and effectuation: A design theory‐based study of technology entrepreneurship. Creativity and Innovation Management. 24(4). 629-644.
Ferreira, J. J. and et.al, 2016. What do we [not] know about technology entrepreneurship research?. International Entrepreneurship and Management Journal. 12(3). 713-733.
Gartner, J., Maresch, D.. and Fink, M. 2015. The potential of additive manufacturing for technology entrepreneurship: An integrative technology assessment. Creativity and Innovation Management. 24(4). 585-600.
Giones, F.. and Brem, A. 2017. Digital technology entrepreneurship: A definition and research agenda. Technology Innovation Management Review. 7(5).
Malen, J.. and Marcus, A. A. 2017. Promoting clean energy technology entrepreneurship: The role of external context. Energy Policy. 102. 7-15.
Matejun, M. 2016. Role of technology entrepreneurship in the development of innovativeness of small and medium-sized enterprises. Management. 20(1). 167-183.

 

 

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