eBay beat Wall Street expectations with a net profit jump of 52 per cent. The online auction leader's first quarter net income hit $377m this quarter compared with $248.3m last year. Revenue grew 27 per cent to $1.77bn (Q1' 06: $1.39bn). Analyst expectations had ranged from $1.69bn to $1.77bn. "This first quarter of 2007 was a …
I could guess how that happened
I was charged for the same fees twice then a non-reasoned 40 bucks... times that error to a million or so people and wo. eBay looks like a money making powerhouse. I wonder what legal group watches them anyway...
When they keep increasing their fees and providing crappy customer service
...that for a company that is without a doubt one of the biggest in the business, and only then because of the people that choose to use it's services, that the quality and level of customer support is negligible and verging on the scandalous. I find it amazing how no regulatory bodies have seen fit to investigate this site for the sheer volume of complaints it receives for non-existent customer service.
But who cares... they're only making obscene profits off of our backs, right?
"eBay's online payment service PayPal has been largely successful defending market territory from challenger Google Checkout."
It helps that ebay has a virtual monopoly on online auctions, and has banned Google Checkout from ebay (which is surely an anti-trust crime?)
It also helps that Google Checkout is only available in the US and to non-individuals in the UK.
Re: any wonder
"When they keep increasing their fees and providing crappy customer service"
I couldn't agree more, considering it has cost me 10 pence insertion fee + 9 pence FVF to sell a 1 pound item = 19p for every £. Ok, it's a crude example and I choose to us the service of course.
Maybe I should sign up with a rival auction site but my current perception is that Ebay's large user base will be more likely to attract purchasers for the tat I sell :o)
Isnt a shocker, by far
eBay + paypal is the same as iPod + iTunes. People want easy simple methods of getting what they want, and their willing to pay for simplicity.
eBay and iPods are already well into the self sustaining phase, where customer recommendations and free publicity automatically garentee a flow of new customers.
Although customers complain, for the majority its still cheaper than most and its still far more convenient. E.g i just brought something new at 1/4 the price compared to shops, in about 8 clicks. Just getting to the shop would automatically be higher than delivery charges.