The world’s largest online marketplace has recently seen a huge spike in its sales, signaling the site’s successful turnaround.
eBay, an e-commerce site that is the online equivalent to a yard sale, has seen a bit of a sales slump in recent years in its virtual marketplaces. However, its latest numbers indicate it’s back and better than ever.
Its most recent quarterly earnings show profits from the site’s marketplaces jumped an incredible 144 per cent from the same period last year, with revenues soaring 23 per cent to $3.4 billion.
The company is also becoming quite the formidable retail opponent as it sees huge growth in Paypal, its mobile payment system. Obviously the naysayers were wrong — eBay isn’t going anywhere, and other online marketplaces (they’re talking to you, Amazon) better watch out.