eBay Plans to Take On Amazonadmin
EBay and its CEO, Devin Wenig, have a big task ahead for 2016: Proving to investors that the e-commerce site is still growing after its split from payments giant PayPal last year. So far, things aren’t looking good for eBay, which reported disappointing earnings for the important holiday season.
But Wenig has a plan, which he laid out at the Goldman Sachs Technology and Media conference in San Francisco on Wednesday. In an interview on stage, he said that eBay is now thinking more like a retailer instead of a technology site when marketing and selling the 800 million items that are available through the service.
It used to be that eBay’s core business was as an online auction house for hard to find items and antiques, used clothing and cars. But in the past five years, the company has emphasized selling new products like electronics and car parts at a fixed price.