Meg Whitman is the President and Chief Executive Officer (CEO), eBay, online auction site, which became one of the World Wide Web, the most surprising success stories. He has taken a stance of its founder Pierre Omidyar, who is still active in business, and is directed by the company on par with Amazon.com. Unlike other online sites, eBay, but has an impressive gains presence thanks to a "virtual". Basically, there is no stock, no sellers, only a brand and a collection of servers that connect buyers and sellers. His posistion on eBay, Whitman is the first woman to become a millionaire thanks to the Internet stock equity, and he freely admits that learns as it goes. "Every week a different set of questions, a different challenge, something new to think," he told Business Week writer Robert D. Hof "Probably at least a couple of times a week, I'll go," Oh! I do not know. ""
Abandoned medical school dreams
Margaret "Meg" Whitman was born in 1957, the youngest of three children. It 'became a well-to-clan, which has links to some of the oldest families in Boston and raised in Cold Spring Harbor, the elegant beach in Long Island, New York. His father, Hendricks, had its own lending activities. His mother, also named Margaret, was a housewife, but when Whitman was a teenager his mother traveled to China as part of a delegation of women who had been invited to visit. This was in early 1970, and the Asian nations were closed to foreigners for many years until then. Although Whitman was still in high school, the realization mother was an important part of his life. "When my mother returned home, when this great adventure," Whitman said in an interview with the Christian Science Monitor journalist Patrick Dillon, "he told me that this experience has taught them. He realized that he could do anything he wanted and she wanted me to admit that I was able to do the same. "
"We're a different company every three months. I wonder from top to bottom, we have the right people at the right place at the right time ...? I myself, if I'm the right person at the right time."
Whitman was a talented athlete in high school, serving as captain of his swim team. She also played hockey, lacrosse and basketball. She entered Princeton University in 1973, only a few years after it began admitting women undergraduates for the first time. Plans to become a doctor, like so many other successes in high school, she was cast in her class in organic chemistry, among other courses. "I took calculus, chemistry and physics in my first year," she told Fast Company writer Charles Fishman. "I survived. But I did not enjoy it. Of course, chemistry, calculus, physics and nothing to do with a doctor, but if you're 17 years old, you think, is what the doctor should be around. "
Whitman found his place in college when she took a job selling advertising for a student magazine. She changed her major to economics, and received from Princeton in 1977 he went to another school in the Ivy League, Harvard, where he earned a Master of Business Administration. In 1979 he was hired by Procter & Gamble, Home Care in Cincinnati, Ohio, and the maker of personal products. One of his colleagues in the department of brand management was Steve Case (1958 -), who later founded America Online (AOL).
The most unusual sales on eBay
August 1999: Auction of human kidneys an offer came to $ 5.7 million before it is removed for violating eBay sales policy.
2001: Gulfstream II jet sold for $ 4.9 million, is believed to have been the most expensive ever sold on site.
June 2003: "Ghost in Jar" of Arkansas, winner: $ 50,922.
April 2004: Seattle man's wedding dress sold his ex-wife after the publication of photos of himself with it, the winning bid: $ 3,850.
Other auctions unusual piece of coal; piece of navel lint, a Lincoln Continental sedan once owned by President John F. Kennedy, childhood home of former US President Bill Clinton in Hope, Arkansas.
Married to a doctor, instead of
While at Procter & Gamble, Whitman worked in the Noxzema skin care equipment products, but did not stay long in the company. He had married a medical student at Harvard, hard Griffith IV, and because of his neurosurgery residency, the couple had to move to San Francisco. Here, Whitman found a job at Bain and Company, an international consulting firm. He also became the mother during the 1980's, and his next work was a childhood dream: the senior vice president of marketing for Disney Consumer Products. She helped launch the new theme the company store outside the United States, but have begun seeking employment in New England, when her husband was offered the post of chief of neurosurgery at Massachusetts General Hospital in Boston. Fortunately, a shoe manufacturer Stride Rite call in Lexington, Massachusetts, was looking for a new president.
During his time at Stride Rite, Whitman was responsible for the revival of its classic Keds sneaker line. His next job was with Florists Transworld Delivery (FTD), a cooperative florists, as President and CEO, but remained only a year before moving to Hasbro, the toy manufacturer. Not surprisingly, it was a decision that thrilled his young son. Whitman ran a preschool toy division of Hasbro, and successfully re-launched another product of the year, Mr. Potato Head.
In the fall of 1997, Whitman was contacted by a headhunter firm, which conducts research for executives and other key personnel of the company. An online auction company was looking for a new leader to help you get started in earnest, but I had never heard of AuctionWeb, as eBay had known. However, Whitman agreed to fly to California for an interview. Before leaving, she made an investigation into the company computer, while still AuctionWeb a collection of ads. "I remember sitting on my computer saying I can not believe I'm about to fly across the country to see an auction site listed in black and white," says Fishman.
Took a risk with the new company
EBay was still a relatively young company. It was started in 1995 in San Jose, California, Omidyar, a computer programmer. He created the site and its software as a way to help his girlfriend sell items from his collection of Pez dispensers kitsch. Buying and selling at auction concept where the highest bidder wins, took off, and the site Omidyar a profit of six months after its launch. Its principle was simple: the seller posts an item for sale and accept bids on the auction during a period of two weeks. Highest bidder wins, and the buyer and seller exchange address information for payment and shipping. EBay to pay a registration fee of 35 percent, and also took a small percentage of the sales transaction.
A main feature of eBay was a rating system that buyers and sellers rated their relationships with each other. Negative comments about buyers, who had not paid or sellers who had not delivered, will make others wary of doing business with either. Omidyar was convinced to listen and respond to the user base of the site was crucial to its commercial success. The online scoring system itself had been suggested by fans on eBay, for example. But he had a hard time expanding the business and maintain its ethical perspectives, and decided that a professional artist would do a better job expanding on eBay, as it was renamed. Omidyar and other support, as Whitman customer experience and talent management brand. She, in turn, as the meaning of the eBay community spirit.
Whitman spoke to his family, and they agreed to move. She began working at eBay in February 1998. The company employees was only nineteen at the time, and some are still used as a desktop card games. Whitman was based on taking the box office worldwide and even in high technology, a dangerous ground. In June 1999, the company's Web site becomes more popular day by day, its servers crashed for twenty hours. He had gone before, but engineers were able to quickly locate and remedy the problem. This time was different. Whitman lasted four hours and said Atoosa Rubenstein in CosmoGirl! interview, "the engineers moved three months, and effectively ran the technology division. I do not know much about technology, and it was like in France, everyone speaks French, and that n 't!"
A "power seller" eBay
EBay's Whitman has also handled the initial public offering (IPO) stock in September 1998, and over the next five years, has helped eBay become one of the great success stories in the history of American business. It has grown faster than Microsoft, Dell, Amazon, or Wal-Mart, and has proven so successful that many manufacturers began to leave the day job to devote himself full time to their online auctions. Heavy on eBay used by professionals in the $ 100,000 sales, and some part-time was to help put their children to school with extra income. EBay has increased the fortune of a large number of small specialty shops such as antique shops and a t-shirt maker, simply giving them a Web-savvy owners of a new customer base throughout the country.
Whitman, eBay instituted a policy requiring its senior managers, you can send the item for auction on a regular basis, so you know first.
Margaret Whitman of eBay causes beyond headquartered in San Jose, California.
AP / Wide World Photos. Reprinted with permission.
what worked and what did not. He also sold the contents of his family in Telluride, Colorado Ski Lodge. He also regularly check the site message boards to see what users were discussed. "Great running this company," said Brad Stone, Newsweek, "is that as soon as you know, what your customers think."
Under Whitman, eBay began holding annual conferences, a member of the auction house at the top. He is usually greeted like a rock star, when he climbed the stage, where the audience chanting his name. Decorations have come from elsewhere, too: In 2002, Fortune magazine named her one of the three most powerful women in business. At that point, eBay had more than thirty million registered users, and that took a $ 1.1 billion in revenue, which reached $ 15 billion auction completed. A year later the number had risen to 24 billion dollars of goods and services revenues have doubled to $ 2.17 billion. EBay at any given time, about twenty million items are for sale. Ten million of tenders submitted by users every 24 hours, with a value of $ 900 from goods and services changing hands every second.
He went to the alma mater
Whitman has an annual salary of $ 2.19 million, but its shares owned by eBay, is believed to be the first female millionaire created in the Internet age. He donated part of his fortune to the University of Princeton, where he serves on the board of directors of the school. In early 2002, she and her husband donated $ 30 million to help school in New Jersey to build a new residential college for students. Princeton University Whitman College is the sixth residential and house about 500 students. The additional space would increase the enrollment of Princeton University from 4600 to 5100, when their first classes start entering in 2010. "I had a great time as a cycle of Princeton," a report by the Higher Education Services, visit News quoted Whitman, the reasons behind this gift. "The University has inspired me to think in a way that guided me in my life."
Whitman is working hard to balance family life with a job she loves. She works in the morning and are usually able to run his two son to school. Holidays are often spent skiing or fly fishing. When she travels for business, it has rarely fly on its planes. Thank you for covering many business magazine that featured his fellow flyers to recognize it and tell their stories of eBay. "I have one of the best jobs in corporate America," she said enthusiastically Hof. "This unique blend of commerce and society. User community is endless and endlessly surprising interesting . That's what I love most. "
For more information
Bannan, Karen. "Sole Survivor". Sales & Marketing Management (July 2001): p. 36
Dillon, Patrick. "Peerless Leader." Christian Science Monitor (March 10, 2004): p. 11
Fishman, Charles. "Meg Whitman." Fast Company (May 2001): p. 72