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1、eBay,Inc.andAmazon.comAIt'sacollisioninthemakingwithanimpactthatcouldripplefarbeyondwhichpioneerwillleadtheE-commercerevolution-andwhichwillfollow.BusinessWeek,May1999iMorethanadecadeafterBusinessWeekdevoteditscoverstoryto"eBayvs.Amazon"-acompetitivebattleitlabele
2、d"adefiningmomentfore-commerce"-Amazonhadestablisheditselfasthemarketleader.2Attheendof2010,thecompany'ssharepricehadgrownatacompoundannualgrowthrate(CAGR)of37%since2001-morethansixtimeseBay's6%growthoverthesameperiod(seeExhibit1foracomparisonoftheirstockperforman
3、ce,2002-2010).Overthepastfiveyearsinparticular,Amazon'srevenue,operatingincome,andnetincomehad,onaverage,grownatrobustratesof32%,27%,and26%,respectively(seeExhibit2forAmazon'ssummaryfinancialdata).Ontheotherhand,eBayhadgrowntheseindicatorsatratesof15%,14%,and21%.N
4、otably,itscoreMarketplacesbusinessgrewitsrevenueataCAGRof10%peryearfrom2005to2010(seeExhibit3foreBay'ssummaryfinancialdata).eBayhadnotalwayslaggedbehinditscompetitor.In1999,atthetimeoftheBusinessWeekstory,eBayofferedmorethan2millionitemsforauctiondaily,expectedits
5、annualgrossmerchandisevolume(GMV)toquadrupletonearly$3billion,andmaintained3.8millionregisteredusers,whichhadgrown75%from.theprioryear.3Amazon,meanwhile,whichtouteditselfforoffering"Earth'sbiggestselection"at16millionitemsforsale,expectedannualsalestomorethandoubl
6、eto$1.4billionandboasted8.4millioncumulativecustomeraccounts-up250%versustheprioryear.4AsBusinessWeeksummarized:Indeed,thebuddingbehemothspresentafundamentalchoiceforconsumersintheInternetAge:WillmostpeoplegravitatetowardfixedpricesatthelikesofAmazon'sclean,well-l
7、ightedsuperstore,withitsfamiliarbrand-nameretailsheen?Orwillthemassestakeashinetodynamicpricing,thefluidgive-and-takeoneBay'sfriendly,funkyswapmeetcyberchargedintoaglobalbazaar?Thecompanies,itseems,didnotopttowaitforconsumerstomakeachoice.Afewmonthsbeforethepublic
8、ationoftheBusinessWeekarticle-andonedayaftereBayannouncedplanstomakea$1.1billionsecondarystockoffering-Amazonlauncheditsownauctionsitetomuchfanfare,clea
