Ina Steiner EcommerceBytes Blog
News and insight focusing on ecommerce.
by Ina Steiner, Editor of EcommerceBytes.com
Wed Jan 21 2015 16:31:17

eBay GMV Stutters to 2 Percent Growth in Q4

By: Ina Steiner

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eBay Marketplaces gross merchandise volume (GMV) grew a measly 2% in the all-important fourth quarter of 2014, with the U.S. up 3% and International up 1%. eBay said it would prioritize its resources towards "core shoppers" and its Deals business for its Marketplaces business.

eBay's conference call with analysts is at 5:00 pm EST today, here is the company's press release announcing fourth quarter 2014 earnings, you can view the full release with tables on eBay's investor relations website.


eBay Inc. Reports Fourth Quarter and Full Year Results
Global commerce platform and payments leader eBay (Nasdaq:EBAY) today reported that revenue for the fourth quarter ended December 31, 2014 increased 9% to $4.9 billion, compared to the same period in 2013. GAAP earnings were $936 million or $0.75 per diluted share, and Non-GAAP earnings were $1.1 billion or $0.90 per diluted share, driven by enabled commerce volume growth of 21%.

eBay Inc.’s commerce and payments ecosystems continued to increase the role they play in global commerce with mobile gaining share. Mobile payment volume grew 58% in the fourth quarter to $45.6 billion for the full year representing 20% of total volume. Mobile commerce volume grew 30% in the fourth quarter to $27.9 billion for the full year representing 34% of total volume. In the fourth quarter, cross-border trade grew 20%, representing 21% of total company ECV.

"In a year of unexpected events and distractions, we ended 2014 with double-digit revenue growth, solid earnings growth and strong cash flow, reflecting the fundamental strengths of our company," said John Donahoe, president and CEO of eBay Inc. "PayPal had another strong quarter, finishing an excellent year. eBay, while facing challenges, continues to be a great business and is focused on stabilizing performance and engaging its core customers. Looking ahead, our plans are on track to separate eBay and PayPal into independent companies in the second half of 2015, and we are confident this is the right strategic path for each business."

PayPal net total payment volume (TPV) grew 24% in the fourth quarter with Merchant Services volume up 33% and on-eBay volume up 3%. Revenue grew to $2.2 billion. PayPal gained 4.6 million new active registered accounts in the quarter and 18.9 million for the full year, up 13% to 162 million. Global on-eBay penetration increased to 80.8%. PayPal product innovations and investment to make payments simple and easier resulted in accelerating transaction growth, up 25% in the quarter, representing more than 3.6 billion transactions for the full year.

eBay Marketplaces gross merchandise volume (GMV) grew 2%, with the U.S. up 3% and International up 1%. Revenue grew to $2.3 billion. Marketplaces gained 2.9 million new buyers in the quarter and 14.9 million for the full year, up 11% to 155 million. Traffic was impacted by both the decline in new users due to SEO changes and the occasional buyer not returning to our site or being met with increased friction due to the password reset when they did come. In addition, the rising dollar negatively impacted export volume in the U.S. We are taking decisive action to focus the business in an effort to simplify and speed up decision making while re-aligning the cost structure to create capacity to invest. We are prioritizing our resources towards our core shoppers and we are doubling down on areas of strength like our $2 billion GMV Deals business.

eBay Enterprise gross merchandise sales (GMS) grew 9% in the quarter. Revenue grew to $443 million. Enterprise enabled its clients to grow same-store sales 12%. Enterprise signed up more than one thousand new clients and renewed or extended its relationship with more than 1,700 additional clients in 2014. It continues to expand its omnichannel capabilities, delivering $1 billion in ship from store sales in 2014, and broaden Magento's reach and global ecosystem. Enterprise supports merchants across the entire customer experience journey - from getting new shoppers into clients’ brick-and-mortar and online stores and inspiring them to buy - to delivering the goods and turning customers into loyal repeat buyers.

Looking forward to 2015, we will be simplifying organizational structures to focus the businesses and ensure that we are set-up to compete and win. During the first quarter, we plan to reduce our workforce globally by approximately 2,400 positions which a represents about 7% of our total workforce across eBay Marketplaces, PayPal, and eBay Enterprise. We will also be exploring strategic options for eBay Enterprise, including a sale or IPO. Enterprise is a strong business and a leading partner for large retailers, managing mission critical components of their e-commerce initiatives. However, it has become clear that it has limited synergies with either business and a separation will allow both to focus exclusively on their core markets, as we create two independent world class companies.

The company also announced today that it has entered into a standstill agreement with investor Carl Icahn, the company’s largest active shareholder. In addition to certain corporate governance provisions to be adopted by PayPal as an independent company at the time of its spin-off from eBay Inc., the agreement also appoints Icahn Capital executive Jonathan Christodoro to eBay Inc.’s current Board of Directors. On September 30, 2014, eBay Inc. announced that its board of directors had approved a plan to separate the company’s eBay and PayPal businesses into two independent publicly traded companies in 2015, subject to customary conditions. The agreement with Mr. Icahn allows him to determine which board Mr. Christodoro will serve on at the time of separation.

In a separate press release today, the company also announced the appointment of seasoned Wall Street executives Frank Yeary and Perry Traquina to its board of directors. These appointments bring the total number of directors to 15, 13 of whom are independent.

Other Selected Financial and Operational Results
    Operating margin - GAAP operating margin decreased to 21.6% for the fourth quarter of 2014, compared to 22.6% for the same period last year. Non-GAAP operating margin decreased to 27.7% in the fourth quarter, compared to 29.2% for the same period last year.
    Taxes - The GAAP effective tax rate for the fourth quarter of 2014 was 11.2%, compared to 17.3% for the fourth quarter of 2013. The non-GAAP effective tax rate for the fourth quarter of 2014 was 18.7% compared to 19.7% for the fourth quarter of 2013.
    Cash flow - The company generated $1.6 billion of operating cash flow and $1.3 billion of free cash flow during the fourth quarter of 2014.
    Stock repurchase program - The company repurchased approximately $1.2 billion of its common stock in the fourth quarter.
    Cash and cash equivalents and non-equity investments - The company's cash and cash equivalents and non-equity investments portfolio totaled $14.6 billion at December 31, 2014, up from $12.8 billion at December 31, 2013.

Business Outlook 2015
    First quarter 2015 - The company expects net revenues in the range of $4,350 - $4,450 million with GAAP earnings per diluted share in the range of $0.37 - $0.43 and non-GAAP earnings per diluted share in the range of $0.68 - $0.71. GAAP earnings include an estimate of separation and restructuring costs of $210 - $240 million.
    Full year 2015 - The company expects net revenues in the range of $18,600 - $19,100 million with GAAP earnings per diluted share in the range of $2.17 - $2.32 and non-GAAP earnings per diluted share in the range of $3.05 - $3.15. GAAP earnings include an estimate of separation and restructuring costs of $350 - $400 million.

In January 2015, the company's board of directors authorized an additional $2 billion stock repurchase program. Together with the $1 billion remaining under the company’s prior stock repurchase program authorized in January 2014, the company's total repurchase authorization as of January 21, 2015 is $3 billion. In addition to offsetting dilution from its equity compensation programs, the company expects, subject to market conditions and other factors, to make opportunistic repurchases of its common stock to reduce outstanding share count. Any share repurchases under the company’s stock repurchase programs may be made through open market transactions, block trades, privately negotiated transactions (including accelerated share repurchase transactions) or other means.

Quarterly Conference Call and Webcast
eBay Inc. will host a conference call to discuss fourth quarter and full year 2014 results at 2:00 p.m. Pacific Time today. A live webcast of the conference call, together with a slide presentation that includes supplemental financial information and reconciliations of certain non-GAAP measures to their nearest comparable GAAP measures, can be accessed through the company's Investor Relations website at http://investor.ebayinc.com. In addition, an archive of the webcast will be accessible for 90 days through the same link.

eBay Inc. uses its Investor Relations website at http://investor.ebayinc.com as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. Accordingly, investors should monitor, in addition to following press releases, SEC filings, public conference calls and webcasts.

See accompanying Newsflash article.

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Perminate Link for eBay GMV Stutters to 2 Percent Growth in Q4   eBay GMV Stutters to 2 Percent Growth in Q4

by: maya This user has validated their user name.

Thu Jan 22 18:51:35 2015

Yup- ole Johnny Boy just kept fixing,fixing and fixing. Like the person obsessed with plastic surgery. Now he's left with an unrecognizable distorted mess.

Perminate Link for eBay GMV Stutters to 2 Percent Growth in Q4   eBay GMV Stutters to 2 Percent Growth in Q4

This user has validated their user name. by: The End

Thu Jan 22 20:20:18 2015

I do extensive research on what businesses Ebay owns / buys.
Then I avoid them like the plague.

Perminate Link for eBay GMV Stutters to 2 Percent Growth in Q4   eBay GMV Stutters to 2 Percent Growth in Q4

This user has validated their user name. by: The End

Thu Jan 22 20:23:57 2015

They're all going to prison, They're all going to prison, They're all going to prison, They're all going to prison, ....

Perminate Link for eBay GMV Stutters to 2 Percent Growth in Q4   eBay GMV Stutters to 2 Percent Growth in Q4

This user has validated their user name. by: LDS Brother

Thu Jan 22 21:37:16 2015

Orwellwasright is spot on ! That is it in a nut shell !

Go to, and rot in HELL Mr. Greedo Donahoe !

13) The Dsr system which ebay swore would never be used against sellers, and of course it was immediately, and thousands of sellers disappeared

( Ming, Orwell I almost disappeared from suicide, and that is no lie, the oppression positively crippled me with SEVERE DEPRESSION, the calls to eBay falling on deaf ears when I was blatantly screwed and they let me suffer for 1 year on each screw job )

14) Once the DSRS had eliminated thousands, Ebay instituted the secret Guardrail program so any seller who hits a bad patch or a cluster of bad customers gets thrashed , gets their visibility reduced to next to nothing and could even get suspended
( Yep ALL designed to exterminate us USA small sellers )

15) Finally the defect system  there is clear proof these systems were designed not for buyer safety , but to eliminate sellers, No sane company would assign “defects” to a seller who promptly refunds a dissatisfied customer

( More eBuse as the one poster here coined it, total bullshit to PUNISH me or any seller with a 1 year defect for PROMPTLY refunding a customer fully or partially when nothing was done wrong - And that @SSHOLE Donahoe, honestly thought this site would flourish ? Screwing us USA sellers over, who are buyers, whose family and friends were buyers ! Donahoe is a delusional crazy man in my opinion ! )

16) Using all these methods in a heavy handed and oppressive manner so sellers with years of selling could be suspended overnight, sometimes because of a tiny percentage failing of a single metric  with virtually no chance of ever selling and no realistic evaluation or appeal

17) Refusing to provide a real customer service system so sellers who encountered issues and  who have made tens of thousands of dollars for ebay could only speak to a random employee who could not care less. It is well known that these representatives read from standard scripts, are often abusive, very often wrong and are well known to put sellers on perpetual hold . Calling back sellers find there was no record of any call and everything they were told was just to get them off the phone. ( Or I remember vividly when I was crying on the phone, telling them I have kids to feed, I did nothing wrong to deserve this low DSR to stick for an entire year ! The eBay phone reps reply to me, I know I am a seller also ! The nerve of this company ! )

In closing, I would like to say I joined eBay in the 1990's built myself up to a steady $30 to $35,000 a year job on eBay, I was a good religious man, fair to my customers, not filled with hate at all, then in 2008 eBay changed for the worse I knew Donahoe would be the end of me and eBay, most posters know I already posted how I walked around that night in 2008 when Donahoe became CEO, lookinh ay my wife and children sleeping with tears streaming down my face, KNOWING it was over for me eventually with John Donahoe, and I was right. I had the most horrible feeling looking at Donahoes face, saying he was the new CEO, call it 6th sense, premonition, bad feeling or ALL OF THE ABOVE

What a shame, over Donahoes reign, my family had had to see me change into a severely depressed individual, stressing out non stop, hypertesnion, depression, insomnia

They have seen me have family time with them since Donahoe took over RUINED as before I was to enjoy my wife and kids, I checked eBay only to see a Neg or a 1 or 2 star rating to harm for for a year, they saw me flake off and heard me begging eBay to do something about the unjust penalty on me for 1 year when DSR's first came out, basically they have seen John Donahoe reduce their husband and Father to nothing but rubble

Ming, Donahoe and his ways punished me and my whole family

I have busted my ass 1000 times more than I ever have prior to Donahoe achieved Top Rated, by ther grace and mercy of God did not get eliminated from eBay when DSR's were first weaponized against us sellers, I came close, but survived

I feel like I have aged in mind body and spirit about 30 years in the last 7 years

Thank you Donahoe for nothing but misery

Like I said when your arrogant ass took over eBay you said you were ASHAMED of it !

Well look what you left Wenig ! You got a thriving market place

Wenig gets the most hated site on the planet, the most hated CEO slot on the planet ! Buyers and sellers, are all sick to death of eBay and hate it !

Hell even GOOGLE hates eBay JD and doesn't even have eBay on page 1

Your an Epic failure, don't care about your bank account saying otherwise, as a human being in my opinion your a colossal failure

$$$ can;t erase what a failure you are and the true harm your wrecking ball ways damaged people and families on eBay who were not bad sellers ever, you let us get smeared as collateral damage

I need Emetrol right now I am gonna vomit just thinking about JD

Perminate Link for eBay GMV Stutters to 2 Percent Growth in Q4   eBay GMV Stutters to 2 Percent Growth in Q4

This user has validated their user name. by: Anonymous Annie

Thu Jan 22 22:54:08 2015

LDS Brother writes: ''...I am gonna vomit just thinking about JD''

I have a similar reaction when seeing his smug smarmy cocky arrogant s*it-eating grin. (And THIS is the main reason that I added a wildcard filter (similar to ''*donahoe*.jpg'') to my ad-block software.

I got so SICK of seeing his face on this site! I'm so glad that Ina and David continue to include his name in the images they use of him... and my ad-blocker thinks it's an ad and I never see his face anymore!

Also... just wanted to say that I'm glad you're still with us, LDS Brother. Rely on the strength and love of your family... and don't be afraid to seek professional help and advice too. Depression is insidious. (Been there, done that... no shame in it.)

Perminate Link for eBay GMV Stutters to 2 Percent Growth in Q4   eBay GMV Stutters to 2 Percent Growth in Q4

by: samanthanmignon This user has validated their user name.

Thu Jan 22 23:29:59 2015

Well,. I have finally decided that it is time for me to give up. It truly breaks my heart. I was one of the early Ebay sellers, starting back in 1999, and oh what fun Ebay was in those years!

It was so simple, back then. It was really YOUR business, not Ebays, back then. I was soon selling $2-3000 a week. The 1st time in my life that I could say I had my own business, and I was making money, even though a Grandma.

Paypal was even free back in those days. And, everybody loved Ebay and we were so proud to tell people that we were Ebay sellers.
 
Made so many friends. Spent a lot of money buying on Ebay and I had many, many return customers, for my items.  
  Then along came Donahoe. I stayed way too long, with this vague hope, that surely, they would get tired of beating the sellers, and throw a few crumbs our way. Maybe, even naive enough, to think they might one day take pity on us? LOL!

  I didn't want to believe that Ebay really hated us sellers, who were instrumental in building them. I always read these blogs here and on Ebay. And, I would think, they must be wrong. Why would a big, successful , unique place, like Ebay, want to destroy itself?

 I waited a long time, and jumped through many hoops. But, today, I realized, it is over. Going on a cruise in a couple of days and put Ebay out of my mind for that week, and heal a bit from the grief (I know, weird, but being honest) I feel.

Then, when I return, going to sell all of my inventory while I still can, probably at cost or a loss, and get out of this business. Don't want to be stuck with all of my stock. I sold fine vintage linens and bedspreads. Ebay has finally beaten me, and I cannot help but cry, a little.

Ebay was such a big deal to me at one time. And, I was so proud to be a seller. And, it was a full time thing for me.

  I wonder why no one reports any of this, on the news. Or why someone has not written a book about this.

Ebay destroyed countless people, and the world has the right to know their stories.
 

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by: samanthanmignon This user has validated their user name.

Fri Jan 23 00:17:30 2015

TO:  Orwellwasright

Thank you for this summary. I think we all need to remember what Ebay did to a once great and unique company. You put it in a nutshell!  

Perminate Link for eBay GMV Stutters to 2 Percent Growth in Q4   eBay GMV Stutters to 2 Percent Growth in Q4

by: Boo_who? This user has validated their user name.
Web Site

Fri Jan 23 04:31:19 2015

Is ebay ever going to admit they have killed the goose that laid a golden egg?

They've lost sight of the game and alienated it's customers (yes ebay, sellers are your customers - not buyers. Buyers are your members full stop).

Goodbye Donahue, make sure you don't trap your hand in the door as sellers slam it when you leave.

Perminate Link for eBay GMV Stutters to 2 Percent Growth in Q4   eBay GMV Stutters to 2 Percent Growth in Q4

This user has validated their user name. by: The End

Fri Jan 23 05:42:26 2015

BBC News > Jan 23, 2015 >
Italy is the model of why government and Big Business (Crony Capitalism) should NEVER go together. America's economy is failing due to a disconnect between moral / social conduct and corporate dealings. If America is to return to a fully functional/ viable economic system, government MUST be separated from business.
America is Italy all over again, but in a more subtle way.
Any potential candidate promising to run government like business / corporation MUST BE ROUNDLY REJECTED.
The separation of government from business ( as far as possible) is the goal in up coming elections here in America.
Corporate is the death knell of the entrepreneurial spirit. Burying corporate "governance" is on the front burner now.

Perminate Link for eBay GMV Stutters to 2 Percent Growth in Q4   eBay GMV Stutters to 2 Percent Growth in Q4

This user has validated their user name. by: Rexford

Fri Jan 23 06:56:06 2015

Just brilliant Orwellwasright.

It should be framed.

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by: gutspiller This user has validated their user name.

Fri Jan 23 08:43:12 2015

I've joined Anonymous Annies camp.

I'm not from the States or another big country. But it can be done. I started selling on Ebay in 2007. From just a small seller to sell some personal stuff I tranformed in a professional seller running on of the biggest shops.

Paid a fortune to Ebay/PayPal. As a thank you in 2012 my shop was put off in. After a fight of 1 year I saw it was useless. Sales on Ebay went down, down, down. Sales on our own website up, up, up.

As LDS brother I went through a severe depression up to a point where a was about to do stupid things to myself. That's where I decided here I draw the line.

Closes my Ebayshop, closed my account. So I now sell through my own website and some other project that I have.

Life has never been so good since I left Ebay. The stress, the bad feelings,... All gone.

I come to read this blog daily. It really makes me sick to the stomac. Not the blog, but all the stories I read about the way how Ebay treats its selllers.

In the past 90% of my stock I would buy on Ebay for resale. Now it's hardly 50% and I think even less and continues to go down.

At on side it sell the rare and unique items Ebay became famous for. At the other side the things you find everywhere. It's the first one that made my business big and that get my all of my returning customers. And it's that part that Ebay no longer liked.

At one hand I want Ebay to succeed. I know if Ebay is doing well, I can find a lot of good stuff to resell.

At the other hand, Ebay completely destroyed my business. Almost completely ruined the life of my and countless other sellers. So the only thing they deserve is to go flat on their face.

The only way I can see an improvement is Ebay completely going away from some time. Another company acquiring Ebay for some of their technology and customer base, to then launch their own marketplace under a completely new name with only the good things (are there any left?) from Ebay.

I know what Ebay did to me. I will NEVER EVER trust them again. Not in this life, not in the next life. The only way I would trust it would be if it would a completey different company.

But then there's the question who? google would be a good candidate but they already have so much power. The last thing they need is a worldwide marketplace giving them even some more power.

Look at other marketplaces, Amazon being a leading example. Once they become big and powerful they start to abuse their sellers.

I'm afraid things will never become again as they once where. I just know Ebay has completely done for me. Don't want to sell on Ebay ever again. The only reason to still buy on Ebay is because I can't find it anywhere else.

And even this won't continue. I now spend twice the time to hardly find half of the stuff I used to buy.

Ebay's gonna become a case study on how the biggest and most successful marketplace worldwide went down due to complete mismanagement.

Perminate Link for eBay GMV Stutters to 2 Percent Growth in Q4   eBay GMV Stutters to 2 Percent Growth in Q4

by: RCL This user has validated their user name.

Fri Jan 23 09:00:09 2015

Oh good grief. Look at Netflix over the past 2 years. eBay has seriously fumbled, but the sky is not falling.
eBay's most loyal customers were its sellers. As soon as management stops trying to BEAT Amazon, reason will prevail.

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This user has validated their user name. by: Rexford

Fri Jan 23 09:04:47 2015

RCL says " As soon as management stops trying to BEAT Amazon, reason will prevail."

Please sir, give me one example where reason has prevailed under the current management.

I think many of us can give you thousands of reasons where it hasn't.

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by: RCL This user has validated their user name.

Fri Jan 23 09:09:55 2015

One example? You have already seen it. Pay Pal is going its own way.

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This user has validated their user name. by: LDS Brother

Fri Jan 23 09:19:04 2015

Thanks for the encouragement Annie, I need it

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by: HoneVille This user has validated their user name.

Fri Jan 23 09:37:54 2015

Ina and followers...  Time to go see a doctor and get some Prozac.  New board members... ALL senior management is gone... a whole new senior management is coming in... huge turn over in other key positions... You don't get this kind of turnover without getting fresh talent with new and fresh ideas.  This is a WHOLE new ballgame and the first freakin' pitch hasn't even been made and I hate to tell you all this but your BITTERNESS is now creating blindness.  It's time to gather around, join hands and sing DING DONG THE WITCH IS DEAD... it's time to bury the past and look to the future.  

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by: ebay refugee camp This user has validated their user name.

Fri Jan 23 09:55:00 2015

Ebay just does not get it, the sellers they have chased away, sellers who were unjustly maligned by ebay's policies have taken away a huge chunk of sales on ebay. Many many sellers whose items were not made visible because they were not a top rated seller and were a above standard seller because of fraudulent buyers who were enabled by ebay. Sellers were given defects for things they did not do wrong and when the sellers tried to prove it to ebay the sellers were shot down even when they had proof.
This created major angst on the site, sellers left, took their customers, told their families and friends not to buy or sell on ebay.
Ebay included Paypal which masked a lot of bad things going on at ebay, paypal profits covered the mismanagement of ebay marketplaces.
Small business on ebay was raped by ebay executives, now ebay is being raped, by these businesses who have moved their items to other venues and whom are making sure they tell everyone they can to stay away from ebay.
As a former small business owner I went through all of this and I can tell you that their are sales and customers available elsewhere and the number of sales ebay lost was shown loud and clear by the 4th quarter numbers.
Ebay marketplaces has lost and will continue to lose millions upon millions in fees because of total and complete mismanagement.
Ebay will need to do a complete confession of their sins, scrap their 100% buyer guarantee and their defect policies. Ebay needs to go to the review system.
The top rated seller system is quite frankly a laughter, what a mess, it is a complete and total sham.
Ebay needs to apologize to their customers for allowing the present regime of executives whom are leaving in mass, or getting out and hoping they are not going to be indicted, I say that is coming.
I do not see John Donahoe admitting his failure, he is too conceited and arrogant so this is what will happen.
Ebay is going to be sold, 11main will be rolled into ebay and it will be 11main using the ebay system.
If you are going to file a civil suit shop for your attorney now, do not wait.
Sellers were ebay's customers and ebay has treated their customers like dirt and scum and that has caused there undoing.
It is now time to sit back and watch as the parts of ebay are sold to to the wealthy tycoons, fiends of ebay execs, just like the skype deal. Illegal? it is suppose to be but nothing is done.
Wall street id steal from the poor and give to the rich
 

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This user has validated their user name. by: Rexford

Fri Jan 23 10:06:15 2015

RCL says "One example? You have already seen it. Pay Pal is going its own way."

Yes, and it was done only to quieten Carl Icahn.  PayPal has been eBay's lifeline.  I hardly see this as an example of reason.  More like an example of coercion. Do tell how will this help your business, assuming that you sell on eBay?

Moreover, can you not already see the plan in the works to sell eBay off into pieces (Magento/eBay enterprises for example)?   The handwriting is on the wall for the sale of eBay.  It's the Bain way.

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by: gizmo This user has validated their user name.

Fri Jan 23 10:10:19 2015

Ebay has already dealt the pain. I cannot , & will not ever deal with crooks again. Id rather call it Poor boys shopping network. Id never go back to an abusive venue.

Ebay has nothing for me , I just settle . Ebay reminds me of a crack head , always chasing the high. How far are they willing to go , to get their fix? Theft for sure.

No-one wants theives for business partners. They are criminal. They are low lifes. Know your business partners.

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This user has validated their user name. by: iheartjacksparrow

Fri Jan 23 10:13:18 2015

@Orwellwasright - I would add one additional item to your list. I think the obliteration of recognizable user IDs also hurt eBay. From "ecommercebytes" to "e***s" to "s***e" made it difficult if not impossible to track bad buyers. I remember many years ago when I was buying an old doll series, it was easy to track non-paying bidders and you could warn sellers before auctions ended about particular bidders' histories. And now, since there is no negative feedback for buyers, and eBay seemingly taking no action against repeat non-paying bidders, sellers are even more at risk.

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