eBay Inc. is an American multinational e-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 the autumn of 1995 and became a notable success story of the and became a notable success story of the dot-com bubble.
eBay has slashed its fees for business sellers to support entrepreneurs struggling as a result of the pandemic.
As of last week, small firms who sign up for the online marketplace will pay no charges to list or sell up to 250 items a month until May 31.
Existing business sellers will be given a 30-day payment holiday on all fees, which could be extended at the end of April.
Selling fees are the second biggest cost to businesses on eBay after shipping, amounting to 10 percent to 12 percent of sales.
Businesses that list and sell £5,000 worth of goods a month can expect to save between £500 and £600 during the 30-day window.
eBay is also cracking down on sellers listing essential items at inflated prices.
Only preapproved vendors will be able to sell certain goods, including face masks and hand sanitizer.
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