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☆ After losing his job 15 years ago, a single dad started flipping cellphones on eBay. He turned the hustle into a six-figure monthly reselling business and plans to retire at 40.
▼ + stars: | 2024-05-27 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +7 min

AdvertisementPivoting from reselling electronics to clothingWhile Richard was making enough reselling electronics to scrape by, "the cash flow was very tight." AdvertisementStill, he called his eBay store Technsports. "You have to put up great items with a great listing, and eBay and the customers will reward you." "I will always have an eBay store. He also plans to grow the YouTube channel he started in 2023 to help other people make money selling on eBay.

Persons: —, Richard S, Richard, I've, It's, Ralph Lauren, Gucci, I'm, Louis Vuitton, Richard's, Technsports, he's Organizations: Service, Circuit, Business, eBay, Craigslist, Sidekicks, Buffalo Bills, Salvation Army, Nike, Louis, BI Locations: Ft, Lauderdale, Coral Springs

☆ Larry Ellison bought an entire island and Jeff Bezos owns a $78 million property there, but eBay's reclusive founder is Hawaii's richest resident
▼ + stars: | 2024-05-03 | by ( Polly Thompson | ) www.businessinsider.com time to read: +1 min

Despite all the big stars that flock to Hawaii, the elusive founder of eBay, Pierre Omidyar takes the state's crown. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Notable island neighbors include billionaires like Oprah Winfrey, Jeff Bezos, Peter Thiel, and Oracle founder Larry Ellison. But despite the big names and showy personalities of Hawaii's ultra-rich residents, it's the media-shy founder of eBay, Pierre Omidyar, who is the island state's richest permanent inhabitant, according to Forbes's list of the richest billionaire in every state for 2024.

Persons: Forbes, Pierre Omidyar, Omidyar, —, Oprah Winfrey, Jeff Bezos, Peter Thiel, Larry Ellison Organizations: eBay, Service, Oracle, Business Locations: Hawaii

☆ As the CEO of eBay, I keep employees productive by asking this simple question about our work
▼ + stars: | 2024-03-26 | by ( Madeline Stone | ) www.businessinsider.com time to read: +8 min

Jamie Iannone, the CEO of eBay, says the company is using AI to boost efficiency and creativity. After getting this direct feedback, our product teams developed tools powered by AI, including a description generator and an image-based listing flow. eBay is using AI to drive the company forwardeBay has been using AI for years. We also know that happy employees are more productive employees. We take this responsibility very seriously because millions of sellers count on eBay to make them more productive.

Persons: Jamie Iannone, —, we've, they'll, We're, We've Organizations: eBay, Service

☆ Stocks making the biggest moves after hours: Beyond Meat, Agilent, Axon Technologies and more
▼ + stars: | 2024-02-27 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Beyond Meat — Shares skyrocketed more than 78% after the plant-based meat company beat revenue estimates in the fourth quarter. Beyond Meat reported revenue of $73.7 million, while analysts polled by LSEG, formerly known as Refinitiv forecast $66.7 million. Agilent Technologies — Shares surged 5% after Agilent posted adjusted earnings and revenue that beat Wall Street's estimates in the fiscal first quarter. Axon Enterprise — The weapons and technology stock ticked up nearly 6% after Axon issued full-year revenue guidance that exceeded expectations at the high end. Axon forecasts revenue of $1.88 billion to $1.94 billion, while analysts polled by FactSet expected $1.88 billion.

Persons: Agilent, FactSet, Sam Adams, Boston Beer, LSEG Organizations: LSEG, eBay, Wall, Urban, Boston Beer Company, Boston Locations: FactSet

☆ Stocks making the biggest moves premarket: Netflix, AT&T, Tesla, EBay, AMD and more
▼ + stars: | 2024-01-24 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Netflix — Netflix's stock price jumped 9.2% after topping analysts' revenue and subscriber growth expectations during the fourth quarter. ASML — Shares of the Dutch chip firm gained 6.8% after the company beat expectations on revenue and profit. Texas Instruments — Shares of the technology company fell more than 3% after it missed revenue estimates for the fourth quarter. The company reported $4.08 billion in revenue, below the $4.12 billion projected by analysts, according to LSEG. AT & T did, however, slightly beat revenue expectations for the fourth quarter and said it expects to deliver adjusted EPS growth in 2025.

Persons: SAP's, Dupont, Tesla, —, Jesse Pound, Lisa Kailai Han, Michelle Fox Theobald Organizations: Netflix, Texas, SAP, Dupont de Nemours, EBay, NewStreet Research, AMD

☆ eBay is laying off 1,000 employees — about 9% of its workforce. Read the memo its CEO sent to staff.
▼ + stars: | 2024-01-24 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +1 min

eBay is cutting 1,000 jobs — a reduction of about 9% of its workforce. CEO Jamie Iannone told employees in a memo Tuesday that it would make the latest round of layoffs so it could be "more nimble." Iannone pointed to its expenses and headcount eclipsing the growth of its business in the memo shared on the company website. While we are making progress against our strategy, our overall headcount and expenses have outpaced the growth of our business." Read the full memo the CEO sent to employees below.

Persons: Jamie Iannone, Iannone Organizations: Service, eBay, Google, Amazon, Prime, MGM Studios

☆ EBay to eliminate about 1,000 jobs, or 9% of full-time workforce
▼ + stars: | 2024-01-23 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +2 min

EBay said Tuesday that it plans to lay off 9% of the company's workforce, equal to about 1,000 full-time jobs, as the tech industry continues to downsize to start 2024. Iannone said the job cuts are necessary because eBay's "overall headcount and expenses have outpaced the growth of our business." Following hefty job cuts last year, tech companies have continued to eliminate positions in January as concerns about consumer and business spending persist. Regarding eBay's cuts, Iannone said he wants employees to work from home on Jan. 24, "to provide some space and privacy for these conversations." EBay shares dropped about 4% in November after the company provided fourth-quarter revenue guidance that trailed Wall Street estimates.

Persons: Jamie Iannone, Iannone, Jim Cramer Organizations: EBay, SAP, eBay, Wall Locations: downsize, Europe

☆ eBay must pay $3 million after its employees sent live spiders and cockroaches to a couple as part of a harassment campaign
▼ + stars: | 2024-01-11 | by ( Associated Press | ) www.businessinsider.com time to read: +6 min

eBay has agreed to pay a $3 million fine after its employees waged a harassment campaign against a Massachusetts couple. The employees sent live spiders, cockroaches, and a bloody pig mask to the couple. AdvertisementOnline retailer eBay Inc. will pay a $3 million fine to resolve criminal charges over a harassment campaign waged by employees who sent live spiders, cockroaches and other disturbing items to the home of a Massachusetts couple, according to court papers filed Thursday. The couple produced an online newsletter called EcommerceBytes that upset eBay executives with its coverage. Wenig, who stepped down as CEO in 2019, was not criminally charged in the case and has denied having any knowledge of the harassment campaign or ever telling anyone to do anything illegal.

Persons: —, David, Ina Steiner, Josh Levy, Devin Wenig, Wenig, James Baugh, Baugh, David Harville, Harville Organizations: eBay, Service, eBay Inc, Justice Department, EBay, Associated Press, Communist Party of Locations: Massachusetts, California, United States, Boston, Wenig

Vacuum maker Dyson has in recent years tied up with eBay UK to sell officially refurbished products at a hefty discount to the price of new ones. Some 23% of consumers globally say they are buying more second-hand products, according to the EY Future Consumer Index, a survey of 22,000 consumers published earlier this month. "I found a waistcoat for my dad in a charity shop in Peckham the other day – I saw it and I thought I have to get it, he's going to love it," Baker said as she browsed in a Crisis charity shop in Camberwell, south-east London. In the fourth quarter of last year, sales in UK charity shops grew by 8.6% compared the previous year, according to the Charity Retail Association. Lesley Wright, a volunteer at an Oxfam shop in Brighton, England, is gearing up for her "busiest-ever" holiday season.

Persons: Eve Williams, Dyson, Lorna Fallon, Lucy Baker, Baker, Lesley Wright, Wright, Richa Naidu, Helen Reid, Matt Scuffham, Elaine Hardcastle Organizations: eBay Inc, Oxfam, Apple, eBay, Dyson, Regent, Sustainability, Charity Retail Association, Reuters, Thomson Locations: British, London, Peckham, Camberwell, Brighton , England

☆ Cramer: eBay's results boost investment case for stocks like Costco and Amazon
▼ + stars: | 2023-11-08 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: 1 min

CNBC's Jim Cramer said Wednesday that eBay 's (EBAY) business outlook leaves much to be desired and bolsters the investment case for other retailers, such as Costco Wholesale (COST). After the close Tuesday, eBay issued light fourth-quarter guidance as management warned about softening consumer demand beginning in September and extending into the current sales period, particularly in Europe. U.S. shoppers also are looking for more value, management said. I'd rather be in Walmart," Cramer said on "Squawk on the Street." Cramer's Charitable Trust, the portfolio used by the CNBC Investing Club, owns shares of Costco and Amazon (AMZN).

Persons: CNBC's Jim Cramer, Cramer Organizations: eBay, Costco Wholesale, Costco, Walmart, Trust, CNBC, Club Locations: Europe, U.S

☆ EBay forecasts fourth-quarter results below estimates on weak consumer spending
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsNov 7 (Reuters) - Ebay (EBAY.O) forecast fourth-quarter revenue and profit below Wall Street estimates on Tuesday and joined other e-commerce platforms in sounding the alarm on weaker-than-expected consumer spending. EBay forecast current-quarter revenue in the range of $2.47 billion to $2.53 billion, compared with estimates of $2.60 billion, according to LSEG data. The company also expects current-quarter adjusted profit per share in the range of $1 to $1.05, compared with estimates of $1.04. Third-quarter revenue rose 5% to $2.50 billion, in line with Wall Street expectations, as the company saw an uptick in demand for refurbished goods. On an adjusted basis, eBay earned $1.03 per share, compared with estimates of $1.

Persons: Dado Ruvic, Jamie Iannone, Jefferies, D.A, Tom Forte, Chavi Mehta, Shounak Dasgupta Organizations: eBay, REUTERS, Ebay, Wall, Amazon, Davidson &, EBay, Thomson Locations: Jose , California, Europe, United States, Bengaluru

☆ Insider Today: Israel's next steps
▼ + stars: | 2023-10-11 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

AdvertisementAdvertisementIn today's big story, we're looking at the latest developments in Israel's war with Hamas, including Israel's devastating airstrikes and a potentially complicated ground invasion of Gaza. What's on deck:Markets: Market experts detail how to cash in on an ailing bond market. Market experts detail how to cash in on an ailing bond market. AdvertisementAdvertisementThe Israel war is also impacting another conflict: Russia's invasion of Ukraine. The Insider Today team: Dan DeFrancesco, senior editor and anchor, in New York City.

Persons: Jimmy Buffett's, margarita, Caroline Ellison, Sam Bankman, Faiz, NurPhoto, Insider's Kelsey Vlamis, Insider's Chris Panella, Amir Levy, Jake Epstein, Insider's Elias Chavez, David Donabedian, Insider's Bryan Metzger, Brendan McDermid, Jim Rogers, George Soros, Raphael Bostic, Lorie Logan, BRYAN R, SMITH Caroline Ellison, Ellison, Linda Yaccarino, X, Arantza Pena Popo, eBay's, they're, They'll, Steve Scalise, Jim Jordan, Rachael Brennan, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Tech, Getty, CNN, Hamas, CIBC Private Wealth, Ukraine, Washington Post, Republican, Elite, Quantum Fund, Soros Fund Management, Atlanta Fed, Dallas, Fed, Alameda Research, Street, Gaza, Boomers, Republicans, Ohio, The Chicago, Tata Consultancy Services, Sam's Club Locations: Florida, Gaza, Israel, Ukraine, Russia, homebuying, Louisiana, New York City, San Diego, London, New York

☆ DOJ sues eBay for selling ‘rolling coal’ devices; fines could hit $2 billion
▼ + stars: | 2023-10-11 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

Ebay could be on the hook for as much as $2 billion in fines for allegedly allowing hundreds of thousands of "rolling coal" pollution devices and other products that violate environmental laws to be sold on its platform. The Department of Justice, on behalf of the Environmental Protection Agency, filed a lawsuit claiming that the e-commerce giant enabled the sale of more than 343,000 rolling coal devices. The DOJ's 61-page complaint included screenshots of emissions tampering devices that were listed on eBay's platform. Rolling coal devices are among several tools that can be used to disable or tamper with a vehicle's pre-installed emissions control systems, which the EPA requires of all vehicles. Under the Clean Air Act, tampering with a vehicle's emissions control systems and selling those tampering tools are illegal.

Organizations: Ebay, of Justice, Environmental Protection Agency, DOJ, eBay, Act Locations: New Jersey , Maryland, Maine

☆ eBay's first chief AI officer is building AI tools to change how people shop online, saying the AI 'paradigm shift' will happen in three phases
▼ + stars: | 2023-10-10 | by ( Madeline Stone | ) www.businessinsider.com time to read: +6 min

E-commerce companies eBay and Shopify are both building tools that enable online sellers to use AI. eBay chief AI officer Nitzan Mekel-Bobrov said he sees AI bringing a "paradigm shift" to e-commerce. AdvertisementAdvertisementNitzan Mekel-Bobrov joined eBay as the company's first chief AI officer in 2021. Internally, eBay is also developing AI tools that are aimed at improving productivity and creativity for its engineers, analysts, and content creators. Jaffer told Insider that business owners often have specific needs that aren't easily solved by the AI tools that are widely accessible today.

Persons: Nitzan, Bobrov, —, We've, Miqdad, Jaffer, Shopify, They've Organizations: eBay, Service, Canadian, eBay's, Harvard Business School Locations: Shopify

You can use an eBay gift card to pay for all or some of your purchases on the site. To use your eBay gift card, you can enter its code at checkout, and the balance will be applied to your purchase. You can even check your gift card balance at any time using eBay's online tool. On the payment screen, scroll down until you find the "Gift cards, coupons, and eBay bucks" field and enter the 13-digit card on the back of your eBay gift card. This will happen even if your eBay gift card covers the entirety of your purchase.

Persons: you've, Jennifer Still Organizations: eBay, Service, PayPal Locations: Wall, Silicon

☆ CEO of eBay lays out his master plan to fend off new rivals like TikTok and Shein with AI and live-shopping features
▼ + stars: | 2023-07-29 | by ( Madeline Stone | ) www.businessinsider.com time to read: +5 min

Jamie Iannone, eBay's CEO, spoke with Insider about the next phase in the e-commerce giant's evolution. Iannone said eBay's size would empower it against emerging competitors such as TikTok and Shein. But the number of new eBay buyers grew for the second straight quarter, Iannone said. The next version of that product is set to use image recognition, allowing eBay's sellers to create a product listing based on a photo. When asked about new competitors such as TikTok, Shein, and Temu, Iannone said eBay was "focused on our strategy and how we win."

Persons: Jamie Iannone, Iannone, what's, we've Organizations: eBay, Walmart, Reuters, Brand Locations: China

☆ Stocks making the biggest moves midday: Meta Platforms, Chipotle, Royal Caribbean and more
▼ + stars: | 2023-07-27 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +7 min

Meta Platforms reported earnings of $2.98 per share on $32 billion in revenue. Royal Caribbean , Norwegian Cruise Line — Shares of Royal Caribbean surged 8.7% after the cruise company beat expectations for the second quarter. Royal Caribbean reported $1.82 in adjusted earnings per share on $3.52 billion of revenue. The company reported $5.98 in adjusted earnings per share on $3.21 billion in revenue. The company reported $2.05 in adjusted earnings per share, below the StreetAccount consensus of $2.33 per share.

Persons: Chipotle, Refinitiv, Lam, L3Harris, Willis Towers Watson, Northrop Grumman, Northrop, Sunnova, Edwards, StreetAccount, —, Alex Harring, Hakyung Kim, Samantha Subin, Yun Li Organizations: Refinitiv, Cruise, Royal Caribbean, Lam Research, KLA Corp, —, L3Harris, Northrop Grumman, Northrop, Management, Energy, Honeywell, Honeywell International, Comcast —, Comcast, Southwest Airlines, eBay, Wall Street, CNBC Locations: Royal Caribbean, Refinitiv

The latest drubbing in the world's biggest bond markets, which last year suffered a record rout, does not yet point to any dysfunction in the markets themselves, investors said. But in echoes of the volatile conditions seen during March's banking crisis, trading in euro zone benchmark German government bond futures were briefly interrupted on Thursday when bond yields spiked. U.S. and British 10-year yields were also set to end the week more than 20 bps higher , . ING said earlier on Friday that this week's data was strong enough to push yields higher even if jobs numbers interrupt the moves. "It won't be as bad as that, but higher rates and higher yields could lead to negative returns and pressure returns on equity markets."

Persons: Mike Riddell, Jan von Gerich, Mark Dowding, Gael Fichan, Fichan, BlueBay's Dowding, Yoruk Bahceli, Samuel Indyk, Harry Robertson, Hugh Lawson Organizations: U.S, Federal, Allianz Global Investors, Fed, of, European Central Bank, BlueBay Asset Management, Syz, ING, Global, Thomson Locations: Europe, United States, Australia, British, Germany, Britain, U.S, of England

☆ Meet 19 executives guiding eBay's online marketplace toward AI, ads, and authentication
▼ + stars: | 2023-06-13 | by ( Madeline Stone | ) www.businessinsider.com time to read: +1 min

The company is focusing on specific product categories and leaning into AI and authentication. The e-commerce marketplace, founded in 1995, recently grew quarterly revenues more than expected despite economic uncertainty and a challenging consumer environment. eBay has recently launched multiple product authenticity programs to promote trust in the platform and drive engagement in these categories. It's leaning into AI, building proprietary technology meant to improve eBay's visual search results and empower sellers to use generative AI in their product listings. From executives piloting eBay's AI initiatives to others connecting with sellers around the world, here are the 19 power players driving the company's next phase of growth.

Persons: GMV Organizations: eBay

Livestream shopping started on social media in China, and according to Coresight Research, has grown into a $512 billion market. The secret to his success, he told CNBC, has been diving into the world of livestream shopping. However, CEO Deborah Weinswig told CNBC the firm has since revised that projection. The firm also estimates livestream shopping will account for more than 5% of total e-commerce sales in the U.S. by 2026. Influencer Danielle Santana hosts live shopping shows on Amazon , selling products from other businesses — everything from cheese graters to make-up sponges.

Persons: I've, Velez, TikTok, Anthony Velez, Deborah Weinswig, didn't, Weinswig, CNBC they're, Eddie Garcia, we're, Garcia, he's, Influencer Danielle Santana, Santana, Coresight's, livestreaming, it's Organizations: eBay, U.S, Research, CNBC, Poshmark, Amazon, Facebook, Meta Locations: China, New York City, U.S

☆ Analysis: Germany leads big bond rally as inflation finally heads down
▼ + stars: | 2023-06-01 | by ( Yoruk Bahceli | ) www.reuters.com time to read: +5 min

Borrowing costs, or bond yields, in the benchmark euro area issuer are down at least 20 basis points (bps) this week , . Yet this week's notable moves suggest investors are plumping with the view that easing inflation and recession risks are strong bond buy signals. Traders now expect the ECB hikes to peak at around 3.7% by September, suggesting two more hikes from 3.25% currently. COMPLICATEDInvestors cautioned that the European inflation outlook remained more complicated than in the United States, where inflation broadly is down sharply from peaks. This week's fall in borrowing costs followed sharp rises the previous two weeks on bets for more rate hikes.

Persons: Kaspar Hense, Flavio Carpenzano, It's, Cosimo Marasciulo, Marasciulo, BlueBay's Hense, Oliver Eichmann, DWS, Eichmann, Yoruk Bahceli, Harry Robertson, Dhara Ranasinghe, Susan Fenton Organizations: Bank, British, Thursday's, Traders, BlueBay Asset Management, Capital Group, ECB, U.S . Federal Reserve, General Investment Management, Bank of England, NatWest, Pictet Wealth Management, Thomson Locations: Germany, United States, Europe, Amundi, U.S, Britain, DWS

☆ EBay forecasts upbeat revenue as sneakers, refurbished items drive growth
▼ + stars: | 2023-04-26 | by ( Yuvraj Malik | ) www.reuters.com time to read: +2 min

The upbeat results soothed investor sentiment, which was hit after eBay earlier this year said that demand weakness will persist in the first half of 2023. EBay is expanding listings under refurbished electronics, luxury bags and watches, and the collectibles category. San Jose, California-based eBay now expects June-quarter revenue in the range $2.47 billion to $2.54 billion, higher than analysts' projection of $2.43 billion, according to Refinitiv. Revenue in the most recent March quarter grew 1% to $2.51 billion, also beating analysts' estimate of $2.48 billion. EBay's shares have gained 4.6% so far this year, compared with a 13.3% rise in the tech-heavy Nasdaq index (.IXIC).

Meta posted $28.65 billion in revenue, topping analysts' $27.66 billion estimate, according to Refinitiv data. Revenue topped estimates, coming in at $741 million versus analysts' estimate of $708.5 million. Ebay said it sees second-quarter per share earnings between 96 cents to $1.01, while analysts had estimated 99 cents per share. Ebay's estimated current-quarter revenue of $2.47 billion to $2.54 billion topped analysts' consensus projection of $2.43 billion. Pioneer Natural Resources — The oil and gas company fell 2.2% after first-quarter earnings topped estimates while revenue missed.

☆ These vulnerable major stocks could be activists' next targets, according to Goldman
▼ + stars: | 2023-04-21 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Shareholder activism could continue its momentum this year, and a number of major companies could be popular targets, according to Goldman Sachs. "Sales growth has been the most important variable in determining an activist target, followed by EV/sales valuation." Goldman screened the Russell 3000 index for companies that may be susceptible to a campaign by an activist investor. Bath & Body Works could experience more action from activists this year, according to Goldman's screen. In the retail space, Goldman also predicts activists may target Best Buy , Burlington Stores and CarMax .

"Meta's discovery gluttony confirms its request of eBay is not worthy of the burden Meta seeks to impose," eBay's lawyers told the California court. EBay's Quinn Emanuel attorneys derided Meta as a "litigant that has completely disregarded the bounds of reason and proportionality" in seeking information from third parties. A representative from eBay and its attorneys at Quinn Emanuel did not immediately respond to requests for comment. Lawyers for eBay contend the company doesn't compete with Meta on social networking but does face off over the Facebook Marketplace e-commerce service. The case is Federal Trade Commission v. Meta Platforms Inc, U.S. District Court, Northern District of California, No.

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