Boston, MA 04/07/2014 (wallstreetpr) – Online marketplace is growing rapidly. The list of items offered has increased and more people are taking the opportunity to buy and sell a variety of items. But even so, competition has grown intense that even pioneers are no longer enjoying business as usual. It is in this situation that eBay Inc (NASDAQ:EBAY) thinks the time has come to redefine e-commerce.
The company is clearly seeing beyond the present, and its solid financial position is enabling it to venture into unfamiliar areas. The company has put in place a team of engineers mandated with innovation and new ventures. The immediate focus for the engineers is how to bring commerce to connected devices and wearables. This may see things branching out from being purely about selling and buying, to proving automated personal assistant services.
It is easy to see that given the cutthroat competition in the online marketplace business, eBay Inc (NASDAQ:EBAY) is putting its talent resources and money into creating the next big thing where it might probably end up being the king, and therefore drive big value to shareholders.
The next big thing
The innovation and new ventures team has already built a wearable commerce app. Wearables are expected to become the next big thing for tech consumers. Samsung already has its wrist wearable Samsung Galaxy Gear and Apple Inc (NASDAQ:AAPL) is expected to launch its own wrist wearable this year. Also, Google Inc (NASDAQ:GOOG) is currently everywhere talking about its smart eyewear called Google Glass. The desire for convenience is driving tech companies to all the lengths to come up with technologies and devices which make life better and easier.
And as this happens, eBay Inc (NASDAQ:EBAY) believes that the sum is complete with commerce in anything featuring a display screen.
Ebay’s innovation and new ventures efforts are headed by the leading minds which helped the company to plot its early move into mobile and tablet platforms. The early move into these platforms helped the company to realize speedy growth in the online marketplace environment.
It has happened before
Talk about breaking new grounds and eBay Inc (NASDAQ:EBAY) is not new to seeing ahead of rivals. The company identified the opportunity in online payment and acquired PayPal which is currently its most active and promising business. It is therefore not surprising that ebay believes it can once more show the way into wearables and connected devices.
