eBay Unveils Updated Logo Before October Launch
eBay has been slowly evolving its online buy-and-sell business in the 17 years since it opened its doors to collectors and hoarders nationwide. Now the company is getting a new look with Friday's unveiling of a new eBay logo.
The primary-colored logo has been scaled down from the manic lettering it displayed for almost two decades, and will now showcase the company's name in a more modern way.
"Our refreshed logo is rooted in our proud history and reflects a dynamic future. It's eBay today: a global online marketplace that offers a cleaner, more contemporary and consistent experience, with innovation that makes buying and selling easier and more enjoyable," eBay president Devin Wenig said in a statement.
By retaining core elements like the iconic color palette but swapping overlapping letters for characters that barely touch, Wenig said the new logo represents eBay's connected and diverse community, which serves more than 100 million active users and 25 million sellers globally.
"The eBay logo is known the world over, so changing it was not a decision made lightly," the president said. Still, the time felt right, as the company continues on its recent mission of turning eBay into more than an auction-style listings website.
eBay Smartphone Trade-Ins Spike After iPhone 5 Rumors
The closer we get to the rumored announcement day of Apple's iPhone 5, the more inclined your average iPhone-owning Jane and John will be to sell their antiquated devices in the hopes that they'll be able to pick up a brand-new Apple smartphone.
But don't take our word for it – try eBay's.
According to representatives from the popular online auction site, speaking to CNET's Josh Lowensohn, the company saw an upswing in users looking to trade their smartphones in via eBay's "Instant Sale" program following last week's iPhone 5 announcement rumors.
In Instant Sale, one merely has to submit what device it is that a person wants to sell, describe an accessory or two that might come with it, describe the condition of the device, and accept eBay's proposed offer. If a user agrees, eBay handles all of the shipping arrangements (and costs), and a user receives his or her cash via Paypal.
Basically, the program is eBay's answer to third-party "buy my stuff" services like Gazelle or any of the innumerable trade-in programs offered by manufacturers themselves.
And, according to eBay, its Instant Sale service saw a 70 percent bump in smartphone submissions last week, undoubtedly prompted by new rumors that Apple's big iPhone 5 announcement event will take place on September 12.
Users submitted more than 100,000 smartphones to eBay's Instant Sale program, and chief among them – for Apple devices, at least – was the 16-gigabyte version of Apple's iPhone 4S.
PayPal Again Boosts eBay to Profits
For the past quarters, eBay's success has been built on the foundation of its PayPal Payments business. The company continued that trend Wednesday, with a boost from its traditional Marketplaces business as a bonus.
EBay reported net income of $570 million, a 20 percent increase over the same period a year ago. Revenue also jumped 29 percent to $3.28 billion.
In part, that's due to the continued success of eBay's Payments business, also known as PayPal. Payments recorded $1.309 billion in revenue, up 29 percent from the same period a year ago. Total payment volume increased by 24 percent to $33.9 billion, with its Merchant Services division that serves companies outside of eBay outperforming the use of PayPal on eBay by a 2:1 ratio. Home Depot, for example, allows shoppers to pay with PayPal at its 2,000 or so U.S. stores.
PayPal also recently launched Paypal Here, a credit-card reader for mobile point-of-sale payments.
eBay Profits Soar 254 Percent, Boosted by Skype
Ebay reported a 254 percent increase in profits for the company's fourth quarter, thanks to its sale of VOIP service Skype to Microsoft.
One-times gains aside, however, eBay also reported a healthy 15 percent increase in net income when considered from a non-GAAP perspective. Revenue rose by 35 percent, thanks to growth in eBay's Payments and Marketplaces businesses, which includes its auction business.
Ebay reported net income of $1.98 billion on revenue of $3.38 billion, an increase of 254 percent and 35 percent, from the same quarter a year ago. Skype officially became part of Microsoft in October as part of a $8.5 billion deal.
Although eBay was founded upon its auction business, the site has evolved into a one-stop payments provider, with acquisitions like RedLaser helping find real-world goods on online sites, and MyLo providing the opposite service: tracking the physical inventory of local stores. Meanwhile, services like PayPal have consistently delivered profits as eBay's Marketplaces business has wavered.
HP TouchPad Buyers Overwhelm eBay in Bid for Cheap Tablets
Consumers hoping to get their hands on a discounted HP TouchPad overwhelmed eBay last night after the company put a limited number of the tablets up for sale, irking more than a few shoppers.
HP added refurbished TouchPad tablets to its eBay storearound 7pm Eastern Sunday night at rock-bottom prices: $99 for the 16GB and $149 for the 32GB, down from $499 and $599, respectively.
According to a leaked document published by TechCrunch last week, the sale was supposed to first go live for HP employees and open up to the public on Monday. But after news of the sale was publicized online, eager fans started refreshing HP's eBay store as soon as the clock hit 7pm.
According to the comments on PCMag's Sunday story, a few people managed to snag the device. "Thanks HP for making this such a holiday pleasure!!!! You guys rock!" wrote one user.
"So it took me an hour of refreshing but I finally got one, though it was a 32 not a 16gb, which really is even better lol," wrote another.
Many commenters, however, reported sluggish response time on eBay, with some people successfully adding TouchPads to their shopping carts, only to have their orders cancelled at checkout.
eBay’s Profits Sink; PayPal Continues Strong Growth
eBay reported healthy but diminished profits and a 25 percent jump in revenue for the company's second quarter. The company's PayPal or Payments business also continued to make up a larger chunk of the business.
eBay reported net income of $283.4 million on revenue of $2.8 billion, a 31 percent decrease in profits against a 25 percent increase in revenue. The company's profits were dragged down by charges associated with its GSI Commerce for $2.4 billion.
eBay's Marketplaces auction and sales division recorded $1.67 billion in revenue, a 19 percent increase. But net revenue from its Payments division increased by 31 percent to $1.07 billion. eBay's Payments business now represents 39 percent of the company's revenue, up from 37 percent a year ago.