Ebay half dollars

Ebay half dollars DEFAULT

Top 25 Most Valuable Walking Liberty Half Dollars Sold on eBay in May 2015

Top 25 Most Valuable Walking Liberty Half Dollars Sold on eBay in May 2015

Walking Liberty half dollars are widely considered one of the most beautiful silver coins the United States has ever produced. It’s therefore little surprise that these coins are also one of the most popular collectibles in numismatics. Many Walking Liberty half dollars are quite scarce, making them highly valuable to coin collectors.

Some of the most valuable Walking Liberty half dollars that crossed the auction block on eBay in May 2015 sold for hundreds, even thousands, of dollars. In fact, of the 25 most expensive Walking Liberty half dollars on the list below, 20 sold for $1,000 or more!

Here’s a look at the 25 most valuable Walking Liberty half dollars that were sold on eBay in May 2015:

 

#1 – 1937-D Walking Liberty Half Dollar PCGS MS-67, $4,085.00

The 1937-D may be a fairly common Walking Liberty half dollar in terms of mintage, but when it comes to any Walker in a grade of MS-65 or higher, these coins are truly scarce. That’s the case with this high-quality 1937-D half dollar, certified and slabbed by the Professional Coin Grading Service.

 

#2 – 1936 Walking Liberty Half Dollar PCGS Proof-64, $2,299.99

Walking Liberty half dollar aficionados love proof specimens of their favorite coin. There’s just something glorious about proof Walking Liberty half dollars – especially gleaming beauties like this one.

 

#3 – 1919 Mint State Walking Liberty Half Dollar, $1,898.00

This key-date coin has a full head and gorgeous surfaces. Though it was sold as an unslabbed “raw” specimen, this pretty 1919 Walking Liberty half dollar didn’t need sonically sealed plastic to find an enthusiastic buyer.

 

#4 – 1938-D Walking Liberty Half Dollar PCGS MS-66 CAC Designated, $1,881.00

The 1938-D Walking Liberty half dollar is considered a semi-key coin, and with just 491,600 pieces made, it’s one of the lower mintage business-strike coins from the middle 20th century. The 1938-D Walking Liberty half dollar is especially scarce in the high grade of MS-66, and it also received a special designation from the Certified Acceptance Corporation, signifying this piece as one of the better-looking examples for its issue and grade.

 

#5 – 1946 Doubled Die Reverse Walking Liberty Half Dollar NGC MS-65, $1,600.00

The 1946 doubled die reverse Walking Liberty half dollar isn’t known to be a particularly scarce coin in the lower grades, but, like all older coins, is tougher in the better grades. This MS-65 specimen, graded by the Numismatic Guaranty Corporation, is one of the few dozen or so known to exist at the MS-65 threshold.

 

#6 – 1916-S Walking Liberty Half Dollar PCGS MS-62, $1,597.50

The 1916-S Walking Liberty half dollar is the scarcest regular-issue piece from the series’ first year of issue. While there are hundreds in better grades, there are thousands of coin collectors who want this coin, putting strong demand even on pieces representing the lower uncirculated grades. It’s particularly important to remember that all pre-1934 Walking Liberty half dollars are relatively scarce above Extremely Fine-40, making this semi-key coin even more attractive in its MS-62 grade.

 

#7 – 1939-S Walking Liberty Half Dollar PCGS MS-67 CAC Designated, $1,567.01

The 1939-S Walking Liberty half dollar, like so many other “common-date” Walkers, is not necessarily scarce in any of the circulated grades, but in MS-67, such as this piece, the values skyrocket. Pieces like this one, which is CAC designated, are great coins for registry sets – not to mention, they are easy on the eyes.

 

#8 – 1919-S Walking Liberty Half Dollar, $1,495.00

This “raw” 1919-S Walking Liberty half dollar appears to have been lightly circulated, and the going price would suggest its buyer may have thought the same about the coin, too. It always makes any judicious buyer wonder why key-date coins like this one are ever sold “raw” these days, when a slab may help increase the final price by perhaps 10 percent or more. Ultimately, this deal may have worked in the buyer’s favor.

 

#9 – 1939 Walking Liberty Half Dollar PCGS Proof-67+, $1,429.00

This premium-quality cameo proof is a stunning specimen, and in Proof-67+ grade, it’s one of the better-looking proof Walking Liberty half dollars that money can buy. All proof Walking Liberty half dollars are scarce, and in 1939 only 8,808 such pieces were minted – certainly fewer survive today.

 

#10 – 1928-S Walking Liberty Half Dollar BU, $1,395.00

Rounding out the top 10 portion of this list of most valuable Walking Liberty half dollars is this “raw” 1928-S issue. Listed as a Brilliant Uncirculated coin, this piece secured a buy price closer to the MS-61 or MS-62 range, and it looks every bit MS-62, if not better.

 

11th Through 25th Most Valuable Walking Liberty Half Dollars Sold on eBay in May 2015

The following 15 Walking Liberty half dollars represent a mix of key-date coins, semi-keys, and a few higher-end business-strikes and proofs. There are also a couple better “raw” coins that caught the eyes of gutsy buyers who didn’t mint spending $1,000 or more on unslabbed eBay coins. Surely, the word of wisdom that goes out to all coin buyers is to be careful when buying any “raw” coins, especially expensive ones on eBay, and make sure all pieces have decent return policies.

#11 – 1921-S Walking Liberty Half Dollar PCGS VF-35, $1,383.00

#12 – 1937 Walking Liberty Half Dollar NGC Proof-67, $1,380.75

#13 – 1938-D Liberty Walking Liberty Half Dollar NGC MS-65, $1,275.00

#14 – 1933-S Walking Liberty Half Dollar PCGS MS-63, $1,200.00

#15 – 1921-S Walking Liberty Half Dollar PCGS VF-30, $1,127.87

#16 – 1917-D Walking Liberty Half Dollar Uncirculated, $1,126.00

#17 – 1937 Walking Liberty Half Dollar NGC MS-67, $1,050.00

#18 Tied – 1923-S Walking Liberty Half Dollar PCGS Cleaning AU Details, $1,000.00

#18 Tied – 1918-S Walking Liberty Half Dollar ANACS MS-63, $1,000.00

#18 Tied – 1933-S Walking Liberty Half Dollar “Raw,” $1,000.00

#21 – 1942-S Walking Liberty Half Dollar PCGS MS-66, $999.95

#22 – 1916-S Walking Liberty Half Dollar NGC AU Details, $990.45

#23 – 1917-S Walking Liberty Half Dollar Obverse Mintmark Choice AU+, $975.00

#24 – 1942-S Walking Liberty Half Dollar PCGS MS-66, $936.25

#25 – 1938 Walking Liberty Half Dollar PCGS Proof-66, $929.00

Sours: https://coinvalues.com/blog/most-valuable-walking-liberty-half-dollars-ebay-may-2015

Another Fake Coin On Ebay - 1964 SMS Kennedy Half Dollar

AuthorPrevious TopicReplies: 7 / Views: 659Next Topic 
Looks like a fraudulent sale on eBay - a '1964 Kennedy SMS' just popped up.

eBay item number:402667996352

(ZERO feedback seller)

I cannot see any tell-tale signs that it is an SMS (like the comma by the lower corner of the 4)

His selling comment is :


Quote:
1964 SMS Kennedy half dollar. Shipped with USPS First Class. This is in very good condition as shown in the picture, and this coin is very, very rare. I am very lucky to have found this, so I am selling it on ebay. This is worth up to $250,000! It is business striked. Silver.'


worth $250,000 but only selling for $2,500

I have been wrong before of ID'ing fake coins so you tell me - is this a fake?
that's what I meant. fake SMS...

not a coin that's worth $250,000 ($2,500 for that matter)
Learn More...
Learn More...
 Previous TopicReplies: 7 / Views: 659Next Topic 
Sours: https://www.coincommunity.com/forum/topic.asp?TOPIC_ID=392159
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US Half Dollar Coins

U.S. Half Dollar Coins

Half Dollars were in general production for circulation until 2002. Today, collector coins are still made by the U.S. Mint, but new versions are not being put into general circulation. A half dollar may be distinguished by the year, design, and composition.

What are important features of a half dollar coin?There are several things that collectors look at in regard to half dollars. Some designs or years may be more likely to be collected, or collectors might want coins of specific metals. A few of the key elements are:
  • Supply
  • Survival Rate
  • Demand
  • Metal
  • Condition
What are the different designs for half dollars?
  • Early Designs:The first half dollar produced was the flowing hair design, which was minted between 1794 and 1795. Following that, there are three versions of the draped bust from 1796 through 1807. The capped bust was next, produced from 1807 through 1831. Seated liberty was produced in three versions between 1839 and 1891. Barber was produced from 1892-1915 and walking liberty was released from 1916-1947.
  • Franklin: Between 1948 and 1963, the half dollar was produced with a picture of Benjamin Franklin on the front the liberty bell on the back. Mint Director Nellie Tayloe Ross admired the founding father and wanted him to be depicted on a coin.
  • Kennedy: Following John F. Kennedys assassination, the Kennedy Half Dollar was created. After their initial release, the coins were silver. Beginning in 1965, the percentage of silver was reduced from 90% to 40%. Starting in 1971, silver was removed entirely from the Kennedy Half Dollar, other than specially produced limited editions. Special designs and compositions were released in 1976 for the bicentennial, and a special 99.99% gold coin was produced in 2014.
How much silver is in a half dollar?

The amount of silver will vary based on the specific date and design of your half dollar. Original silver coins were made of 90% silver and 10% copper. In 1965, the U.S. Mint introduced layered versions of coins with a copper core. At that time, the silver content of dimes and quarters was eliminated, but the Kennedy half dollar still contained 40% silver. In 1971, even the Kennedy half dollar had been changed to match the quarters composition. Today, the Mint does not circulate new versions of the half dollar, but non-circulated sets are created as collectors items by the Mint.

Sours: https://www.ebay.ph/b/US-Half-Dollar-Coins/11968/bn_2312223

United States Mint Begins Sales of Kennedy Half Dollar Product Options on June 1

WASHINGTON – The United States Mint (Mint) will begin accepting orders for rolls and bags containing 2020 Kennedy Half Dollar coins on June 1 at noon Eastern Daylight Time (EDT). Available product options include the following:

PRODUCT CODE

PRODUCT OPTION

MINT MARK

PRICE

20KA

200-Coin Bag

P and D

$147.50

20KB

Two-Roll Set

P and D

$34.50

Coins in both product options are circulating finish, but have never been placed in circulation. The coin rolls are wrapped in United States Mint paper coin wrap marked with a “P” or “D” for the mint of origin and “$10” for the face value. The bags are marked with a “P” and “D” for the mint of origin and “$100” for the face value of the contents.

The Kennedy Half Dollar was introduced in 1964 to commemorate President John F. Kennedy following his assassination in 1963. The coin’s obverse (heads) features the original 1964 design of President Kennedy with the inscriptions “LIBERTY,” “IN GOD WE TRUST,” and “2020.” The reverse (tails) design is based on the Presidential Coat of Arms. Inscriptions are “UNITED STATES OF AMERICA,””E PLURIBUS UNUM,” and “HALF DOLLAR.”

The Mint accepts orders at catalog.usmint.gov. Information about shipping options is available at catalog.usmint.gov/customer-service/shipping.html.

The bags and rolls of Kennedy Half Dollars are also available for purchase through the Mint’s Product Enrollment Program. Learn more about this convenient ordering method at catalog.usmint.gov/shop/product-enrollments/.

Due to the impact of COVID-19, our sales centers are closed until further notice. Click here for details.

About the United States Mint
Congress created the United States Mint in 1792, and the Mint became part of the Department of the Treasury in 1873. As the Nation’s sole manufacturer of legal tender coinage, the Mint is responsible for producing circulating coinage for the Nation to conduct its trade and commerce. The Mint also produces numismatic products, including proof, uncirculated, and commemorative coins; Congressional Gold Medals; silver and bronze medals; and silver and gold bullion coins. Its numismatic programs are self-sustaining and operate at no cost to taxpayers.

Note: To ensure that all members of the public have fair and equal access to United States Mint products, the United States Mint will not accept and will not honor orders placed prior to the official on-sale date and time of June 1, 2020, at noon EDT.

ADDITIONAL RESOURCES:

# # #

United States Mint – Connecting America through Coins

Contact
Press Inquiries: Office of Corporate Communications (202) 354-7222
Customer Service Information: (800) USA MINT (872-6468)
Sours: https://www.usmint.gov/news/press-releases/united-states-mint-begins-sales-of-kennedy-half-dollar-product-options-on-june-1

Half dollars ebay

eBay

American multinational e-commerce corporation

This article is about the international corporation. For the song by "Weird Al" Yankovic, see eBay (song).

EBay logo.svg

Logo since 2012

EBay Silicon Valley Headquarters in Willow Glen, San Jose, California 1938.jpg

Headquarters in the Willow Glen district
of San Jose, California in 2021

FormerlyAuctionWeb (1995–1997)
TypePublic

Traded as

Nasdaq: EBAY
NASDAQ-100 Component
S&P 500 Component
IndustryE-commerce
FoundedSeptember 3, 1995; 26 years ago (1995-09-03)
FounderPierre Omidyar
HeadquartersSan Jose, California, U.S.
37°17′43″N121°55′34″W / 37.2952°N 121.9260°W / 37.2952; -121.9260

Area served

Worldwide

Key people

ServicesOnline shopping
RevenueIncreaseUS$10.8 billion(2019)[1]

Operating income

IncreaseUS$2.321 billion(2019)[1]

Net income

DecreaseUS$1.792 billion(2019)[1]
Total assetsDecreaseUS$18.174 billion(2019)[1]
Total equityDecreaseUS$2.87 billion(2019)[1]

Number of employees

~13,300 (December 2019)[1]
SubsidiariesAuction Co., iBazar, GittiGidiyor, G-Market, Half.com, Qoo10.jp
Websitewww.ebay.com

eBay Inc. (EE-bay) is an American multinationale-commerce corporation based in San Jose, California, that facilitates consumer-to-consumer and business-to-consumer sales through its website. eBay was founded by Pierre Omidyar in 1995, and became a notable success story of the dot-com bubble. eBay is a multibillion-dollar business with operations in about 32 countries, as of 2019.[1][2] The company manages the eBay website, an online auction and shopping website in which people and businesses buy and sell a wide variety of goods and services worldwide. The website is free to use for buyers, but sellers are charged fees for listing items after a limited number of free listings, and again when those items are sold.[3]

In addition to eBay's original auction-style sales, the website has evolved and expanded to include: instant "Buy It Now" shopping; shopping by Universal Product Code, ISBN, or other kind of SKU number (via Half.com, which was shut down in 2017); and other services. eBay previously offered online money transfers as part of its services (via PayPal,[4] which was a wholly owned subsidiary of eBay from 2002 to 2015);[5] online classified advertisements (via Kijiji, or eBay Classifieds Group); and online event ticket trading (via StubHub).

History

1990s

The AuctionWeb was founded in California on September 3, 1995, by French-born Iranian-American computer programmer Pierre Omidyar as part of a larger personal site.[6] One of the first items sold on AuctionWeb was a broken laser pointer for $14.83. Astonished, Omidyar contacted the winning bidder to ask if he understood that the laser pointer was broken; the buyer explained: "I'm a collector of broken laser pointers."[7][8] It soon became the first online auction site allowing person-to-person transactions, and its popularity boomed.[9]

Reportedly, eBay was simply a hobby for Omidyar until his Internet service provider informed him he would need to upgrade to a business account due to his high website traffic. The monthly price increase from $30 to $250 prompted him to start charging eBay users, who did not object.[citation needed] Chris Agarpao was eBay's first additional employee to process mailed check payments.[10]

Jeffrey Skoll was hired as the first new president of the company in early 1996. In November 1996, the E-Commerce platform entered into its first third-party licensing deal, with a company called Electronic Travel Auction, to use SmartMarket Technology to sell plane tickets and other travel products. Growth was phenomenal: from 250,000 auctions during all of 1996 to 200,000 in January 1997 alone.[11][6][verification needed]

The company officially changed the name of its service from AuctionWeb to eBay in September 1997, after Echo Bay Technology Group, Omidyar's consulting firm. The domain name echobay.com was already taken by a gold mining company,[12] so Omidyar shortened it to eBay.com.[13] In 1997 the company received $6.7 million in funding from the venture capital firm Benchmark Capital.

The frequently repeated story that eBay was founded to help Omidyar's fiancée trade Pez candy dispensers was fabricated in 1997 by public relations manager Mary Lou Song to give the media a human-interest story more appealing than Omidyar's original vision of a "perfect market".[15][6] The Pez dispenser myth generated enormous publicity and led to explosive early growth among toy collectors.

The leader in the toy category quickly became Beanie Babies manufactured by Ty, Inc., the most difficult toys to find in retail stores. As collectors internationally were trying to complete their collection of Beanie Babies, Ty set up the first business-to-consumer Web site, a secondary-market online trading post where people could trade their Beanie Babies. However, it was overwhelmed with unsortable listings, creating an urgent demand for a more efficient online trading system.[17] Beanie Babies quickly became the dominant product on eBay, accounting for 10% of all listings in 1997, as collectors thronged eBay's user-friendly interface to search for specific Beanie Babies.

Meg Whitman was hired by the board as eBay president and CEO in March 1998. At the time, the company had 30 employees,[18] half a million users and revenues of $4.7 million in the United States.[19]

On September 21, 1998, eBay went public.[20] In the risk factors section of the annual report filed with the US Securities and Exchange Commission in 1998, Omidyar notes eBay's dependence on the continued strength of the Beanie Babies market.[21] After eBay went public, both Omidyar and Skoll became instant billionaires: eBay's target of $18 per share was all but ignored as the price went to $53.50 on the first day of trading.[22]

2000s

As the company expanded product categories beyond collectibles into almost any saleable item, business grew quickly.[7] In 2000, eBay had 12 million registered users and a cyberinventory of more than 4.5 million items on sale on any given day.[23] In 2001, eBay had the largest userbase of any e-commerce site.[9] In February 2002 the company purchased iBazar, a similar European auction web site founded in 1998,[24] and then bought PayPal on October 3, 2002.[25]

By early 2008 the company had expanded worldwide, counting hundreds of millions of registered users as well as 15,000 employees and revenues of almost $7.7 billion. After nearly ten years at eBay, Whitman decided to enter politics. On January 23, 2008, the company announced that Whitman would step down on March 31, 2008, and John Donahoe was selected to become president and CEO.[citation needed] Whitman remained on the board of directors and continued to advise Donahoe through 2008. In late 2009 eBay completed the sale of Skype for $2.75 billion, but still owned 30% equity in the company.[26]

2010s

In 2012, eBay was charged by the United States Department of Justice with entering into non-solicitation agreements with other technology companies involving their highly skilled employees.[27]

On September 30, 2014, eBay announced it would spin off PayPal into a separate publicly traded company, a demand made nine months prior by activist hedge fund magnate Carl Icahn. The spinoff completed on July 18, 2015. eBay's then chief executive, John Donahoe, stepped down from that role.[28][29][30] Flipkart and eBay entered into a strategic partnership in 2017 under which eBay Inc acquired a 5.44% stake in Flipkart in exchange for its eBay India business for $211 Mn and a $514 Mn cash investment. As part of the partnership, Flipkart decided to use the eBay's platform for global outsourcing.[31]

On January 31, 2018, eBay announced that they would replace PayPal as its primary payments provider with Netherlands-based start-up Adyen. The transition was set to be completed by 2021, but PayPal would remain an acceptable payment option on the site until further notice.[32]

On September 21, 2018, it was reported that eBay would install a security fence around the perimeter of its San Jose headquarters in response to the YouTube headquarters shooting earlier that year.[33]

On July 31, 2019, the company acquired a 5.59 percent stake in Paytm Mall.[34]

On September 25, 2019, it was announced that Devin Wenig would be stepping down as eBay's CEO, and that Scott Schenkel, senior vice president and chief financial officer since 2015, had been appointed as the interim CEO.[35]

2020s

On April 13, 2020, it was announced that Jamie Iannone would become the CEO on April 27.[36] On June 15, 2020, eBay stated that[37] that five employees were terminated in September after a law enforcement notification in August because of a possibly criminal case of harassment of journalists perpetrated by some of the terminated employees.[38][39][40] Six former employees were charged with Aggressive Cyberstalking. [41]

In July 2020, Adevinta announced to acquire eBay Classifieds Group.[42] The deal closed on June 25.[43]

Corporate affairs

Board of directors

As of October 2019 the board of directors was as follows:[44]

  • Thomas J. Tierney, co-founder of the Bridgespan Group, Chairman of eBay since March 2003
  • Fred D. Anderson, former managing director of Elevation Partners, director of eBay since July 2003
  • Anthony Bates, CEO of Genesys
  • Adriane M. Brown, advisor at Intellectual Ventures, LLC
  • Diana Farrell, CEO of JPMorgan Chase Institute
  • Logan Green, CEO of Lyft
  • Bonnie Hammer, Chairman, NBC Universal
  • Kathleen Mitic, CEO of Sitch, Inc.
  • Matt Murphy, CEO of Marvell Technology Group
  • Paul Pressler, Partner at Clayton, Dubilier & Rice, LLC
  • Bob Swan, CEO of Intel Corporation
  • Perry Traquina, CEO of Wellington Management Company
Former board members
  • Pierre Omidyar, director since 1996 and chairman of eBay from May 1996 to May 2015. In 2020, it was announced that he will be leaving the board, however, will still hold the director emeritus title. Additionally, he could still potentially attend board meetings if invited, but won't have the right to vote.[45]
  • Jesse Cohn, Head of U.S. Equity Activism at Elliott Management Corporation. He joined the board in 2019 and left the next year.[45]

Logo

In September 2012, eBay introduced a new logo using a thinnner variation of the Univers typeface,[46] installed on the website on October 10, 2012. It replaced the thicker Univers logo that had been used since eBay's inception in 1995. An all red eBay logo with the same type set was also introduced to be used temporarily for various holidays.

Profit and transactions

eBay generates revenue by a complex system of fees for services, listing product features, and a final value fee for sales proceeds by sellers. As of 2019 the US-based eBay.com charges $0.35 as an insertion fee for a basic listing without any adornments. The final value fee is 10-12% of the total amount of the sale, which is the price of the item plus shipping charges.[47] Reduced final value fees are available to business registered customers. Other eBay websites follow a similar fee structure, but with different cost charges.

Under US law before 2018, a state cannot require sellers located outside the state to collect a sales tax, which made making purchases on eBay more attractive to American buyers. Sellers that operate as a business do follow state tax regulations on eBay transactions.[48][49] Since 2018, changes to tax law in the United States force eBay (and other large marketplaces) to collect sales tax on any eBay purchase shipped to certain states.[50]

The company's business strategy includes increasing international trade.[51][52] eBay has already expanded to over two dozen countries, including China and India. Strategic international expansion has failed in Taiwan and Japan, where Yahoo! had a head start, and New Zealand, where Trade Me is the dominant online auction website. eBay also notably failed in China due to competition from local rival Taobao.[53] eBay entered the Chinese market in 2002 and shut down its Chinese site in 2007.[54] In India, eBay's operations came to a halt[55] after it sold off its India operations[56] to country's largest ecommerce company Flipkart, in the latter's $1.4Bn fundraise, where eBay was a participant.

In its Q1 2008 results, total payment volume via PayPal increased 17%, but of the eBay auction site it was up 61%.[57]

For most listing categories, eBay sellers are permitted to offer a variety of payment systems such as Escrow.com,[58]PayPal, Paymate, Propay, and Skrill.[59] Propay and Skrill were banned effective September 27, 2015, citing low usage.[60]

Escrow.com is eBay's approved escrow site. The transactions processed through Escrow.com largely are in relation to eBay Motors; however, they are not restricted to this type of listing.[58]

eBay runs an affiliate program under the name eBay Partner Network.[61] eBay affiliate marketers were originally paid a percentage of the eBay seller's transaction fees, with commissions ranging from 50% to 75% of the fees paid for an item purchased. In October 2009, eBay changed to an affiliate payout system that it calls Quality Click Pricing, in which affiliates are paid an amount determined by an undisclosed algorithm. The total earnings amount is then divided by the number of clicks the affiliate sent to eBay and is reported as Earnings Per Click, or EPC. In October 2013, ePN launched a new pricing model. The new model is more transparent and is based on category-level base commission rates with bonuses available for referring new and reactivated buyers.[62]

On April 18, 2012, eBay reported a 29% Q1 revenue increase to $3.3 billion compared to their Q1 in 2011. Net income was reported to be at $570 million for the quarter.[63]

For the fiscal year 2017, eBay reported losses of US$1.016 billion, with annual revenue of US$9.567 billion, an increase of 6.6% over the previous fiscal cycle. eBay's shares traded at over $35 per share, and its market capitalization was valued at over US$27.2 billion in October 2018.

Year Revenue
in mil. USD$
Net income
in mil. USD$
Total Assets
in mil. USD$
Price per Share
in USD$
Employees
2005[64]4,552 1,082 11,789 15.65
2006[65]5,970 1,126 13,494 13.00
2007[66]7,672 348 15,366 13.25
2008[67]8,541 1,779 15,592 9.58
2009[68]8,727 2,389 18,408 7.29
2010[69]9,156 1,801 22,004 9.68
2011[70]11,652 3,229 27,320 12.28
2012[71]14,072 2,609 37,074 16.61
2013[72]16,047 2,856 41,488 21.03 33,500
2014[73]8,790 46 45,132 21.01 34,600
2015[74]8,592 1,725 17,755 25.00 11,600
2016[75]8,979 7,266 23,847 27.08 12,600
2017[76]9,567 −1,016 25,981 35.06 14,100
2018[77]10,746 2,530 22,819 34.31 14,000
2019[78]10,800 1,792 18,174 35.50 13,300

Environmental record

On May 8, 2008, eBay announced the opening of its newest building on the company's North Campus in San Jose, which is the first structure in the city to be built from the ground up to LEED Gold standards.[79] The building, the first the company had built in its 13-year existence, uses an array of 3,248 solar panels, spanning 60,000 square feet (5,600 m2), and providing 650 kilowatts of power to eBay's campus.[80] The array can supply 15–18% of the company's total energy requirements, reducing the amount of greenhouse gases that would be produced to create that energy by other means.[80]SolarCity, the company responsible for designing the array, estimates that the solar panels installed on eBay's campus will prevent 37 million pounds of carbon dioxide from being released into the environment as a result of replaced power production over the next three decades. Creating an equivalent impact to remove the same amount of carbon dioxide from the atmosphere would require planting 322 acres (1.30 km2) of trees.

The design of the building also incorporates other elements to reduce its impact on the environment. The building is equipped with a lighting system that detects natural ambient light sources and automatically dims artificial lighting to save 39% of the power usually required to light an office building. eBay's newest building also reduces demand on local water supplies by incorporating an eco-friendly irrigation system, and low-flow showerheads and faucets. Even during construction, more than 75% of the waste from construction was recycled. eBay also runs buses between San Francisco and the San Jose campus to reduce the number of commuting vehicles.[79] In 2014, eBay and several other Oregon businesses signed the Oregon Business Climate Declaration to promote local job growth and slow carbon pollution.[81]

Acquisitions

Main article: List of acquisitions by eBay

PayPal

On October 3, 2002, PayPal became a wholly owned subsidiary of eBay.[82] Its corporate headquarters were sited in San Jose, California,[83] United States at eBay's North First Street satellite office campus. On September 30, 2014, eBay Inc. announced the divestiture of PayPal as an independent company, which was completed on July 20, 2015.[84]

Craigslist

In the summer of 2004, eBay acknowledged that it had acquired 25% of classified listings website Craigslist. Former Craigslist executive Phillip Knowlton was the seller, and he insisted that his former employer was aware of his plans to divest his holdings. Initially, eBay assured Craigslist that eBay would not ask Craigslist to change the way it did business.

In March 2005, eBay launched the classifieds service Kijiji. In April 2008, eBay sued Craigslist to "safeguard its four-year financial investment", claiming that in January 2008, Craigslist took actions that "unfairly diluted eBay's economic interest by more than 10%".[85] Craigslist countersued in May 2008 "to remedy the substantial and ongoing harm to fair competition" that Craigslist claimed was constituted by eBay's actions as a Craigslist shareholder.[86] In September 2010, Delaware Judge William Chandler ruled that the actions of Craigslist were unlawful and that the actions were taken by Craigslist founders Jim Buckmaster and Craig Newmark had "breached their fiduciary duty of loyalty", and restored eBay's stake in the company to 28.4% from a diluted level of 24.85%.[87] However, the judge dismissed eBay's objection to a staggered board provision, citing that Craigslist has the right to protect its own trade secrets.[88][89] eBay spokesman Michael Jacobson stated "We are very pleased that the court gave eBay what it sought from the lawsuit."[87]

Skype

In October 2005, eBay Inc. acquired Skype Technologies,[90] developer of the SkypeVoIP and Instant messaging service, significantly expanding its customer base to more than 480 million registered users worldwide. eBay later sold a majority stake in Skype in November 2009, while retaining a minority investment.[91] This eventually led to the sale of the entire Skype business to Microsoft for $8.5 billion in May 2011.[92]

StubHub

StubHub's acquisition by eBay was announced in January 2007 for a reported $310 million.[93][94][95] According to CNN Money, 2007 was a very successful year for the company, handling five million individual transactions, more than in the previous six years combined of its history.[96] Staffing at StubHub had increased to 350 workers by the time of the sale.[95] Eight months after the acquisition, StubHub reached an exclusive agreement with Major League Baseball (MLB).[96] They get a piece of the 25% in commissions StubHub earns on either end of a sale. Ticketmaster filed a lawsuit against StubHub and eBay in 2007, alleging "intentional interference" with Ticketmaster's contractual rights.[97] In November 2019, eBay agreed to sell StubHub to Viagogo for $4.05 billion in cash;[98] the sale was completed in February 2020.[99]

Qoo10.jp

In April 2018, eBay acquired the Japanese division of Qoo10, a market place driven by Giosis and having the 4th GMV in Japan, for a reported $573 million.[100] With the close of the transaction, eBay also has relinquished its investment in Giosis’ non-Japanese businesses. This acquisition expands eBay's footprint in Japan, one of the largest e-commerce markets in the world. eBay made an initial investment in Giosis Pte. Ltd. in 2010. Since then, Giosis has established dynamic marketplace businesses across Asia. eBay's Japan business, including Giosis’ Japan business, will report into Jooman Park, senior vice president of eBay's Asia Pacific region.[101]

Use for data analysis

eBay is a publicly visible market which has attracted interest from economists, who have used it to analyze aspects of buying and selling behavior, auction formats, etc., comparing them with previous theoretical and empirical findings.

Computer information systems researchers have also shown interest in eBay. Michael Goul, Chairman of the Computer Information Systems department of the W. P. Carey School of Business at Arizona State University, published an academic case based on eBay's big data management and use in which he discusses how eBay is a data-driven company that processes 50 petabytes of data a day.[102]

eBay uses a system that allows different departments in the company to check out data from their data mart into sandboxes for analysis. According to Goul, eBay has already experienced significant business successes through its data analytics. eBay employs 5,000 data analysts to enable data-driven decision making.[102]

Third party

In 2006 the accounting software company Intuit launched a web-based donation tracking service called ItsDeductible. The service uses data from eBay to help users assign a market value to the items they donate.[103]

Visual search

In July 2017 eBay released an image search capability allowing users to find listings on the site that match an item depicted in a photo, using artificial intelligence and machine learning technologies.[104]

GCHQ

UK's GCHQ has a suite of tools for monitoring target use of eBay, named ELATE.[105]

Items

Millions of collectibles, decor, appliances, computers, furnishings, equipment, domain names,[106] vehicles, and other miscellaneous items are listed, bought, or sold daily on eBay. In 2006, eBay launched its Business & Industrial category, breaking into the industrial surplus business. Generally, anything can be auctioned on the site as long as it is not illegal and does not violate the eBay Prohibited and Restricted Items policy.[107] Services and intangibles can be sold, too. Large international companies, such as IBM, sell their newest products and offer services on eBay using competitive auctions and fixed-priced storefronts. Separate eBay sites such as eBay US and eBay UK allow the users to trade using the local currency. Software developers can create applications that integrate with eBay through the eBay API by joining the eBay Developers Program.[108] In June 2005, there were more than 15,000 members in the eBay Developers Program, comprising a broad range of companies creating software applications to support eBay buyers and sellers as well as eBay Affiliates.

Numerous government and police agencies[109] around the world now use eBay as well as traditional auctions to dispose of seized and confiscated goods.

Controversy has arisen over certain items put up for bid. For instance, in late 1999 a man offered one of his kidneys for auction on eBay, attempting to profit from the potentially lucrative (and, in the United States, illegal) market for transplantable human organs.[110]

eBay North First Street satellite office campus (home to PayPal)

Beginning in August 2007, eBay required listings in "Video Games" and "Health & Beauty" to accept its payment system PayPal and sellers could only accept PayPal for payments in the category "Video Games: Consoles".[111] Starting January 10, 2008, eBay said sellers can only accept PayPal as payment for the categories "Computing > Software", "Consumer Electronics > MP3 Players", "Wholesale & Job Lots > Mobile & Home Phones", and "Business, Office & Industrial > Industrial Supply / MRO".[112] eBay announced that starting in March 2008, eBay had added to this requirement that all sellers with fewer than 100 feedbacks must offer PayPal and no merchant account may be used as an alternative.[113][114] This is in addition to the requirement that all sellers from the United Kingdom have to offer PayPal.[115]

Further, and as noted below, it was a requirement to offer PayPal on all listings in Australia and the UK. In response to concerns expressed by the Australian Competition and Consumer Commission, however, eBay has since removed the policy on the eBay.com.au website requiring sellers to offer PayPal as a payment option.

eBay Office in Toronto, Canada

On April 24, 2006, eBay opened its new eBay Express site, which was designed to work like a standard Internet shopping site for consumers with United States addresses.[116] Before it closed in 2008, selected eBay items were mirrored on eBay Express, where buyers used a traditional digital shopping cart to purchase from multiple sellers.[117] The UK version was launched to eBay members in mid-October 2006, but on January 29, 2008, eBay announced its intention to close the site.[118] The German version, eBay Express Germany,[119] was also opened in 2006 and closed in 2008.

At the 2008 eBay Developer's Conference, eBay announced the Selling Manager Applications program (SM Apps).[120] The program allows approved developers to integrate their applications directly into the eBay.com interface.[121] The applications created by developers are available for subscription by eBay members who also subscribe to Selling Manager.

eBay maintains a number of specialty sites including the discussion boards, groups, answer center, chat rooms, and reviews and guides. eBay's mobile offerings include SMS alerts, a WAP site, Java ME clients, and mobile applications for Windows Phone, Android OS, and Apple iPhone.

The initiative Choice in eCommerce was founded on May 8, 2013, by several online retailers in Berlin, Germany.[122][123][124][125][126][127][128][129][130] The cause was, in the view of the initiative, sales bans and online restrictions by individual manufacturers. The dealers felt cut off from their main sales channel and thus deprived them the opportunity to use online platforms like Amazon, eBay, or Rakuten in a competitive market for the benefit of their customers.

Unusual items

Main article: Unusual eBay listings

Many unusual items have been placed for sale on eBay, including at least two previously undiscovered species, including the Coelopleurus exquisitussea urchin.[131][132]

Prohibited or restricted items

In its earliest days, eBay was nearly unregulated. However, as the site grew, it became necessary to restrict or prohibit auctions for various items. Note that some of the restrictions relate to eBay.com (the US site), while other restrictions apply to specific European sites (such as Nazi paraphernalia). Regional laws and regulations may apply to the seller or the buyer. Generally, if the sale or ownership of an item is regulated or prohibited by one or more states, eBay will not permit its listing. Among the hundred or so banned or restricted categories:

  • Tobacco (tobacco-related items and collectibles are accepted.)[133]
  • Alcohol (alcohol-related collectibles, including sealed containers, as well as some wine sales by licensed sellers are allowed, some sites such as ebay.com.au allow licensed liquor sales)[134] (eBay announced September 21, 2012, it will begin removing listings for beer and liquor from its site after a story was aired on ABC series 20/20.)[135]
  • Drugs and drug paraphernalia[136]
  • Items that "promote or glorify hatred, violence, racial, sexual, or religious intolerance, or promote organizations with such views". This includes Nazi paraphernalia, although there are exceptions to this rule for Nazi items such as stamps, letters, and envelopes displaying Nazi postmarks (must comply with the currency and stamp policy)
  • Items depicting the Confederate battle flag.[137]
  • Bootleg recordings[138]
  • Firearms and ammunition (as of January 1, 1999),[139] including any parts that could be used to assemble a firearm as well as (as of July 30, 2007) any firearm part that is required for the firing of a gun, including bullet slugs, brass casings and shells, slides, cylinders, magazines, firing pins, trigger assemblies, etc. Various types of knives are also forbidden.
  • Police and emergency service vehicular warning equipment such as red or blue lights and sirens (antique or collectible items are exempt)
  • Intentionally soiled underwear (see Panty fetishism) and dirty used clothing[140]
  • Forged, illegal, stolen, or confidential documents, which include passports, Social Security cards, drivers licenses, voter registration cards, birth certificates, school documents, medical records, financial information, government license plates, or government classified information documents. Any item that is used to modify documents is also restricted.[141]
  • Human body parts, organs, and remains (with an exception for skeletons and skulls for scientific study, provided they are not Native American in origin)[142]
  • Live animals (with certain exceptions)[143]
  • Certain copyrighted works or trademarked items[144]
  • Lottery tickets, sweepstakes tickets, or any other gambling items.[145]
  • Military hardware such as working weapons or explosives with the exception of demilitarizedvehicles.
  • Any object of Iranian, Cuban, Syrian or North Korean origin.[146]
  • Enriched uranium, plutonium, and other fissile material.
  • Certain categories of sexually oriented material, which must be listed in the "Adult Only" category,[147] notwithstanding certain items prohibited:[147]
  • Virtual items from massively multiplayer online games, restrictions that vary by country[148][149]
  • Ivory products[143]
  • Knives, other than some cutlery, are prohibited in the UK following the criminal importation into the UK (by BBC Watchdog researchers) of several knives that were already illegal to own or import under existing UK legislation. The ban also includes empty leather knife scabbards if they are listed under the category of "knives" on one of the eBay sites[150]
  • Fortune-telling and witchcraft-related services[151]
  • Souls, ghosts, and other "items whose existence cannot be verified" are prohibited.[152][153][154]
  • Surgical masks, hand sanitizer, disinfecting wipes, and other products associated with COVID-19 pandemic in order to stop price gouging [155][156]
  • Many other items are either wholly prohibited or restricted in some manner.[157]

Bidding

Auction-style listings

Main article: Proxy bid

Bidding on eBay (old or new)'s auction-style listing is called proxy bidding and is essentially equivalent to a Vickrey auction (sealed-bid), with the following exceptions.

  • The winning bidder pays the second-highest bid plus one bid increment amount (that is, some small predefined amount relative to the bid size), instead of simply the highest bid. However, since the bid increment amounts are relatively insignificant compared to the bid size, they are not considered from a strategic standpoint.[158]
  • The highest bidder's bid is sealed, as in a Vickrey auction, but the current winning bid (second highest plus one increment) is displayed throughout the auction to allow price discovery.[159]
  • Because eBay's auction-style listings are sealed-bid, it is usually to all bidders' advantage that bids are made only at the very end of the auction (except for an initial minimum bid, that cancels out a "Buy It Now" option, or prevents the seller from ending the listing early). Early bids will usually not increase the bidder's chance of winning the auction, and will often raise the item's final price (winning bid) for the eventual winner.
  • eBay also allows sellers to offer a "Buy it Now" price that will end the auction immediately. The Buy It Now price is available until someone bids on the item, or until the reserve price is met. When the Buy It Now option disappears, the auction-style listing proceeds normally.[160]

Seller ratings

In 2008, eBay implemented a system of seller ratings with four categories. Buyers are asked to rate the seller in each of these categories with a score of one to five, with five being the highest rating. Unlike the overall feedback rating, these ratings are anonymous; neither sellers nor other users learn how individual buyers rated the seller. The listings of sellers with a rating of 4.3 or below in any of the four rating categories appear lower in search results. Power Sellers are required to have scores in each category above 4.5.[161][162][163][164][165]

In a reversal of roles, on January 24, 2010, Auctionbytes.com held an open survey in which sellers could rate eBay, as well as competing auction and marketplace sites.[166] In the survey, users were asked to rank 15 sites based on five criteria: profitability, customer service, communication, ease of use, and recommendation.

eBay was ranked 13th,[167] after other large sites such as Amazon and Craigslist, as well as lesser-known selling sites such as Atomic Mall, eCRATER, and Ruby Lane. In individual category rankings, eBay was rated the worst of all the 15 sites on customer service and communication, and average on ease of use. Some respondents stated they would have given eBay a rating of 10, three to five years ago. eBay was rated twelfth out of fifteen in the Recommended Selling Venue category.

Charity auctions

Using MissionFish as an arbiter, eBay allows sellers to donate a portion of their auction proceeds to a charity of the seller's choice.[168] The program is called eBay Giving Works in the US, and eBay for Charity[169] in the UK. eBay provides a partial refund of seller fees for items sold through charity auctions.[170] As of March 4, 2010, $154 million has been raised for US nonprofits by the eBay Community since eBay Giving Works began in 2003.[171]

Some high-profile charity auctions have been advertised on the eBay home page.[172] As of June 2010, the highest successful bid on a single item for charity was for the annual "Power Lunch"[173] with investor Warren Buffett at the famous Smith & Wollensky Steakhouse in New York. The winning bid was $2.63 million with all of the proceeds going to the Glide Foundation. The winning bidder was not made public, but was able to bring up to seven friends to the lunch. In 2012, a higher bid, of $3.46 million, also going to the Glide Foundation, won a lunch with Buffet.[174] In 2016 an anonymous bidder won a $3.45 million lunch with Warren Buffett and the money raised from the auction was given to Glide Foundation.[175]

The previous highest successful bid on a single item for charity was for a letter[176] sent to Mark P. Mays, CEO of Clear Channel (parent company of Premiere Radio Networks the production company that produces The Rush Limbaugh Show and Glenn Beck Program) by Senator Harry Reid and forty other Democratic senators, complaining about comments made by conservative talk show host Rush Limbaugh. The winning bid was $2,100,100, with all of the proceeds going to the Marine Corps-Law Enforcement Foundation, benefiting the education of children of men and women who have died serving in the armed forces. The winning bid was matched by Limbaugh in his largest charity donation to date.[177]

In 2007; eBay Canada partnered with Montreal-based digital branding agency CloudRaker to develop a campaign to raise money for Sainte-Justine children's hospital in Montreal. They aligned themselves with Internet phenomenon Têtes à claques to create an eBay auction based on popular T-A-C character Uncle Tom, an infomercial host who pitches absurd products. eBay and CloudRaker reproduced Uncle Tom's imaginary products, The Body Toner Fly Swatter, The Willi Waller Potato Peeler, and the LCD Shovel and sold them online. In six weeks, they raised $15,000 for Hôpital St-Justine with one fly swatter, one potato peeler, and one shovel, a world record. The Body Toner Fly Swatter sold for $8,600, the Willi Waller Potato Peeler sold for $3,550, and the LCD Shovel sold for $2,146.21.

Shipping

During auction setup, eBay provides shipping-method choices to sellers: ordinary mail, express mail, and/or courier service. The seller may choose to offer only one shipping method to buyers, or the seller may offer buyers a choice of options.

Very-low-value items shipped directly from China are sometimes shipped by surface mail (seamail), which is inexpensive but takes one to two months.[178] If the buyer is in a hurry, he or she might be able to pay an extra fee to upgrade to second-class Surface Air Lifted shipping or to first-class airmail shipping.

Since 2012, eBay has been enlisting sellers into its "Global Shipping Program". If a seller uses the program, non-domestic buyers pay a fee to Pitney Bowes. The seller sends the item to a Pitney Bowes facility in the US (or the UK), which then forwards it to the buyer, taking care of all international shipping requirements. The program is claimed to enhance the product selection available to international buyers.[179]

Controversies and criticism

Main article: Criticism of eBay

Common eBay criticisms involve the policy of requiring the use of PayPal for payments and concerns over fraud, forgeries and intellectual property violations in auction items.[citation needed] There are also issues of how negative feedback after an auction can offset the benefits of using eBay as a trading platform.[citation needed] eBay has been criticized for not paying UK taxes: the Sunday Times reported in October 2012 that eBay paid only £1.2m in tax on sales of over £800m.[180]

2014 security breach

On May 21, 2014, the company revealed that the consumer database of usernames, passwords, phone numbers, and physical addresses had been breached between late February and early March. Users were advised to change their passwords; to expedite this, a "change password" feature was added to profiles of users who had not yet done so. The Syrian Electronic Army took responsibility for the attack. The SEA said that even though the hack revealed millions of users' banking details to them, they would not misuse the data. They had replaced the front pages of the websites with their own logo, called "Defacing" in technical terms. The hack caused eBay's share price to crash in intra-day trade as a result of the breach of security.[181][182][183][184]

Stalking scandal

Main article: eBay stalking scandal

A cyberstalking and harassment campaign conducted in 2019 against an online newsletter led to charges made public in 2020 against seven members of eBay's global security team, as well as arrests of two of those charged. Wenig, the company's CEO at the time of the harassment campaign, has not been not charged.[185][186][187][188]

See also

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Sours: https://en.wikipedia.org/wiki/EBay
Should You Buy a $75 eBay Coin Grab Bag? See What I Got!

EBay’s Critics Faced an Extreme Case of an Old Silicon Valley Habit

Six former employees were recently named in federal charges that were an indication of the lengths some companies will go to hit back at detractors.

Last summer, members of eBay’s private security team sent live roaches and a bloody pig mask to the home of a suburban Boston couple who published a niche e-commerce newsletter.

The harassment campaign, which also included physical surveillance, sending pornographic videos to the couple’s neighbors, posting ads inviting sexual partners to the couple’s home and an attempt to attach a tracking device to their car, was detailed earlier this month in a federal indictment against six former eBay employees.

The lurid, 51-page indictment, describing how the employees of a multibillion-dollar company were loosed in what authorities described as an unhinged and illegal effort to intimidate critics, drew national attention to the stunning lengths some tech companies will go when responding to their critics.

Silicon Valley companies have stacked what they often call their “trust and safety” teams with former police officers and national intelligence analysts. More often than not, their work is well within the law: protecting executives and intellectual property, fending off blackmail attempts and spotting theft. They conduct background checks on companies that could be acquisition targets and they ensure employees aren’t doing anything illegal.

But the industry’s intense focus on reputation can lead their security units astray. Those perils were laid bare when federal authorities revealed the charges against the eBay employees.

“Most companies, especially established high-tech companies, have units within them that do this kind of work, respond in as close to real time as they can to online criticism of the company, to take steps to protect the brand,” Andrew Lelling, U.S. attorney for the District of Massachusetts, said. But, he added, “I can tell you that at least internally, we have never seen a company that did something like this before.”

Prosecutors charged the six eBay employees with conspiracy to commit cyberstalking and witness tampering, but noted that eBay’s campaign against the husband-and-wife publishing duo was ordered up by senior executives.

“I want her DONE,” Steven Wymer, eBay’s former communications chief, told James Baugh, the company’s former senior director of safety and security. “She is a biased troll who needs to get BURNED DOWN.”

In case there was any confusion, Mr. Wymer added, “I want to see ashes.”

Contacted this past week, Mr. Wymer, who was not one of the employees charged in the indictment, said, “I would never condone or participate in any such activity.” He added that he was constrained in what he could say beyond that. EBay said in a statement that “neither the company nor any current eBay employee was indicted.”

Private security teams have long been part of corporate America, among them insurers’ fraud investigators and the “seed police,” as farmers call investigators for the agricultural giant Monsanto who secretly videotape farmers, infiltrate community meetings and recruit informants in their hunt for patent infringement.

These private detective teams, which typically operate under fraud divisions, are projected to grow into a $23.3 billion global industry this year from a $17.3 billion industry in 2018, according to Grand View Research.

Few industries have embraced the notion of private security as much as tech. One Silicon Valley investigator, who spoke on the condition of anonymity because of nondisclosure agreements, said a start-up executive had paid his firm $50,000 over one weekend to root out employees he believed were plotting his ouster. (They were.) The total tab for the work was as much as half a million dollars.

But as with the eBay team, these private security groups are sometimes accused of crossing legal lines.

In 2006, for example, investigators hired by Hewlett-Packard were caught riffling through reporters’ trash cans and phone records. About a year ago, Tesla made headlines for its aggressive efforts to root out and punish an employee, Martin Tripp, who had tipped reporters off to waste at the carmaker’s Nevada factory.

According to police reports and whistle-blower complaints filed by two Tesla security operators with the Securities and Exchange Commission, Tesla was accused of hacking into Mr. Tripp’s phone, having him followed by private investigators and passing along an anonymous, false tip to the local authorities that Mr. Tripp planned to shoot up Tesla’s factory.

“Tesla’s investigators were tailing him, showing up at weird places, and completely spooked him,” Robert Mitchell, Mr. Tripp’s lawyer, said in an interview. Mr. Tripp has since moved to Hungary out of fears for his family’s safety.

Tesla did not respond to requests for comment, but the company has sued Mr. Tripp for $167 million for what it has said was data theft. Mr. Tripp has filed a countersuit for defamation and unspecified damages. Both suits are ongoing.

When working for tech companies, private investigators have advantages over traditional law enforcement: They have access to more data, deal with far less red tape, and they have the ability to quickly cross jurisdictions and borders.

Justin Zeefe, a former intelligence officer who is now the president of Nisos, a security firm in Virginia, said his company has worked for tech companies on a wide range of cases. On one occasion, they learned that a company’s overseas suppliers had ties to foreign intelligence agencies.

Another client asked his firm to determine whether an acquisition target had been infiltrated by foreign hackers. Yet another hired Nisos to determine the source of multiple cyberattacks. It turned out to be the work of a competitor that had intercepted the company’s Wi-Fi from an apartment rented across the street.

Joe Sullivan, the chief information security officer at the internet company Cloudflare, still remembers the frantic call he received from a colleague while working as a security executive at Facebook several years ago.

She had met a man on Match.com who claimed to work in construction in San Jose, Calif., and he had convinced her to send him a topless photo. He was threatening to email the photo to the entire company if she did not pay him $10,000.

With her permission, Mr. Sullivan’s team took over her account and redirected her extortionist to a payment scheme that they knew would reveal his identity. They determined he was a former Google intern living in Nigeria.

Mr. Sullivan’s team hired Nigerian contractors to confront him. He confessed and surrendered access to his computer and online accounts, which showed he was extorting female executives across Silicon Valley. Investigators were able to destroy the nude photos and warned his victims not to pay.

It could have taken years, Mr. Sullivan said, for law enforcement to identify the extortionist and even longer for Nigerian authorities to do something about it.

Mr. Sullivan learned that lesson as a security executive at eBay in 2006. Romanian fraudsters were running rampant on eBay, and Romanian authorities refused to address the problem. It was only after Mr. Sullivan’s team shut off eBay access to all of Romania — with a message blaming eBay’s shuttering on Romanian law enforcement’s refusal to pursue online criminals — that Romanian police took action.

But Mr. Sullivan’s experience shows how easily tech’s aggressive security tactics can run into trouble. In 2016, two hackers approached Uber with security flaws that allowed them to obtain login credentials for more than 57 million riders and drivers, and the pair demanded a $100,000 payout in return.

Sours: https://www.nytimes.com/2020/06/27/technology/ebay-silicon-valley-security-reputation.html

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