Looking to the future

Technical problems and the odd liver for sale aside, eBay's rise has seemed unstoppable. By creating a unique marketplace with mass appeal – who doesn't after all have a cupboard full of unwanted or unused items – the company has established itself as the leading e-commerce site on the web. And tapping the huge and ill-served market for collectibles has only underscored its popularity.

Even the advent of the likes of Microsoft, Excite and Lycos into the auction market has left little or no trace on eBay's inexorable growth. Meanwhile, the group, through the co-axis of Omidyar and Whitman, has not rested on its laurels. New services, product categories and partners have only served to strengthen eBay's position.

So what challenges does the company now face? Managing its growth will be key. With senior staff, such as Omidyar, focussed on overseas expansion, the domestic market must not be neglected. While initiatives such as the regional auction sites are innovative, the company needs to take a more proactive attitude towards technology and the developments on the horizon to stay further ahead of the market. For example, the advent of digital television with internet access would seem to hold a certain attraction for a mass market business like eBay. Yet Omidyar says the company will adopt a wait-and-see policy in relation to the new medium.

One can hardly blame him. The company's roaring success has been built around a simple idea and the available technology. And such is the group's commanding lead, he can afford to be relaxed in the face of the chasing pack: 'We are building a global brand and a global business here. We are giving the power of commerce back to the individual.'