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Technology Stocks : eBay - Superb Internet Business Model
EBAY 81.29+0.6%9:31 AM EST

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To: Doug Fowler who wrote (3163)5/14/1999 5:12:00 AM
From: Doug Fowler  Read Replies (4) of 7772
 
eBay auction count update:

Active auctions as of May 14,,,,,,,,,,,,,2,128,275
Active auctions as of May 7,,,,,,,,,,,,,,,2,079,027
Active auctions as of April 30,,,,,,,,,,,,,2,041,087
Active auctions as of April 23,,,,,,,,,,,,,1,988,897

Active auctions as of April 9,,,,,,,,,,,,,,,1,914,401
Active auctions as of April 2,,,,,,.,,,,,,,,1,873,394
Active auctions as of March 26,,,,,,,,,,1,877,765
Active auctions as of March 19,,,,,,,,,,1,903,873
Active auctions as of March 12,,,,,,,,,,1,871,314
Active auctions as of March 5,,,,,,,,,,,,1,796,459

Active auctions as of February 19,,,,,,1,591,035
Active auctions as of February 12,,,,,,1,544,149

Active auctions as of January 29,,,,,,,,1,457,406
Active auctions as of January 22,,,,,,,,1,378,705
Active auctions as of January 15,,,,,,,,1,308,663
Active auctions as of January 8,,,,,,,,,,1,281,084
Active auctions as of January 1,,,,,,,,,,1,208,832

Active auctions as of December 18,,,,,,,871,225
Active auctions as of December 11,,,,1,032,073
Active auctions as of December 4,,,,,,1,125,353
Active auctions as of November 27,,,,,,,998,481
Active auctions as of November 20,,,,,,,980,435
Actuve auctions as of November 13,,,,,,942,949
Active auctions as of November 6,,,,,,,,,901,626
Active auctions as of October 30,,,,,,,,,,861,802
Active auctions as of October 23,,,,,,,,,,832,486

Active auctions as of October 9 ,,,,,,,,,,,794,279
Active auctions as of October 2 ,,,,,,,,,,,762,731
Active auctions as of September 25,,,,,,722,745
Active auctions as of September 18,,,,,,708,964
Active auctions as of September 11,,,,,,687,649
Active auctions as of September 4,,,,,,,,645,491
Active auctions as of August 28, 1998: 649,169
Active auctions as of August 21, 1998: 625,810
Active auctions as of August 14, 1998: 612,893

Growth from 13 weeks (one quarter) ago: 37.8 percent

Notes:

eBay auction count growth is definitely slowing down from the torrid pace of recent quarters.

In fact, I wouldn't be surprised to see the 13 week growth rate slow down to less than 30 percent by the end of this quarter.

However, eBay is doing other things to extract more money out of sellers. For example, this will be the first full quarter in which the higher featured auction fees will have been in effect.

Also, consider that eBay is ADDING as many auctions in one week as Amazon has going on altogether.

In addition, eBay has introduced ways for sellers to spend an extra dollar by placing a special symbol, like "Mom" for Mother's Day, or "Dad", for Father's Day.

eBay has also brought Gallery auctions to all their categories, whereby they extract an additional fee.

Based on their last report, eBay was extracting about two-thirds of their revenue out of listing fees alone. That number will increase further this quarter.

I am estimating a 40 percent sequential increase over the first calendar quarter, and saying that eBay revenues this quarter will be around $47M.

I also think the summer quarter will be challenging for eBay. perhaps showing as little as a 20 percent increase over the second calendar quarter, coming in around $57M in revenues.

I still think eBay will end up with $200M in revenues this year, which will be more than 4 times what they did in 1998.

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