It has been a computer click away since September 1995 - but many internet users have no idea what the company name eBay actually means. The American multinational e-commerce company was originally known as AuctionWeb before changing its name two years after its initial launch.
As the first user, Pierre decided to list a broken laser pointer for sale on the site shortly after its launch - and was delighted when Canadian Mark Fraser purchased it. Around this time, the media picked up on Pierre's online intention and a story circulated that he created the website to help his wife collect Pez candy dispensers. However, eBay has since disproved this story, with a spokesperson saying: "It's revealed that the story was a fabricated one".
Just one year later, the total value of merchandise sold on AuctionWeb reached $7.2 million. But this was only the start of its success as the 'beanie babies craze' came 10 months later, with eBay saying: "Beanie Babies, Ty Warner’s line of cuddly stuffed animals, take the world by storm. $500 million worth are sold on eBay alone, representing more than 6% of our total volume."