2. It was based on the name of the founder's consulting firm
The company officially changed the name of its service from AuctionWeb to eBay in September 1997. Originally, the site belonged to Echo Bay Technology Group, Omidyar's consulting firm. Omidyar had tried to register the domain name echobay.combut found it already taken by the Echo Bay Mines, a gold mining company, so he shortened it to his second choice, eBay.com. <5>
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