Electronic Commerce And E Commerce

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E-commerce Definition Electronic commerce or e-commerce is a term for any type of business, or commercial transaction, which involves the transfer of information across the Internet. It is often associated exclusively with online consumer shopping, but the term extends beyond that category. Additional businesses covered under the umbrella of e-commerce includes online auction sites, such as EBay, and businesses that exchange both goods and services.[3] History The history of e-commerce is often contributed to Michael Aldrich. After a visit to a local grocery store, Aldrich was inspired to build a new way to sell groceries. In 1979 he used a television, and a two-way messaging platform, called Videotex, to design what is thought of as…show more content…
This spearheaded the growth of the internet as a whole. [1,2] 1994 brought in the next set of changes. Netscape Navigator was introduced this year. This was significant because Netscape introduced encryption certificates. This encryption made exchanges of all kinds online more secure, which was a barrier holding back the growth of the e-commerce, and the internet as a whole. 1994 also brought along with it the creation of Yahoo! Although the domain name wasn’t actually secured until January of 1995. This was important because of how young and new the internet was. Those who weren’t deeply involved in the computers, and specifically the internet, struggled to navigate the web and locate what they specifically wanted. [2] The next year brought with it an online bookstore called Cadabra that would quickly be changed to Amazon. Founded by Jeff Bezos, Amazon would go on to pressure many brick and mortar bookstores out of business. Within their first 5 years of business, they expanded beyond simply selling books by also offering things such as DVDs, video games, electronics, and even. They are currently a Fortune 500 company, and the #1 online retailer bringing in approximate 79 billion dollars in online revenue per year (as of 2014.) [1,4,10] 1995 was also the year that Pierre Omidyar started what would grow to become EBay. EBay boast itself as the world biggest marketplace. EBay’s model was not that of a normal
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