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the history of eCommerce - part 2



The History of eCommerce: Part 2

Part 2

In part one of this series, we highlighted some early milestones that helped establish the internet as a commerce channel. Now we’ll discuss when some of the largest ecommerce players were born and how they helped accelerate the rapid growth of digital commerce.

1995
Amazon.com and AuctionWeb (now eBay®) go live. (1,2)

1997
Dell Inc. records $1 million in daily online sales. (3)

1998
Annual ecommerce retail sales reach $7.7 billion. (4)

1999
PayPal is born when an engineer develops an online demo allowing people to email payments. (5)

2000
Annual ecommerce retail sales reach $28 billion, a 264% increase in just two years. (4)

2002
eBay acquires PayPal for $1.5 billion. (6)

In our next and final installment, we’ll highlight how this groundwork led us to where we are today.

 

1 Wikipedia,http://en.wikipedia.org/wiki/Amazon.com

2 Wikipedia, http://en.wikipedia.org/wiki/EBay

3 Net Industries, http://ecommerce.hostip.info/pages/305/Dell-Computer-Corp-IMPACT-INTERNET.html

4 HighBeam Research, http://www.encyclopedia.com/topic/Business-to-Consumer.aspx

5 PayPal, https://www.paypal-media.com/history

6 Wikipedia, http://en.wikipedia.org/wiki/PayPal

 

Amazon.com, eBay, Dell, and PayPal are registered or unregistered marks belonging to one or more unaffiliated third parties that do not endorse or sponsor Vantiv Integrated Payments, LLC.

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