October 20, 2001

EBay is profitable, growing and way too expensive

Author: JT Smith

From the Globe and Mail: "We all know that the former superstar dot-com sector is a vast
wasteland of flameouts, of former high-fliers whose stock prices have
fallen by 90 per cent, taking billions of dollars in theoretical
market value with them. Except, that is, for one solitary player, a
startup whose business model was so childishly simple it didn't get
much respect even when the Internet frenzy was at its peak. Not only
has the model held up, it is still growing rapidly, and the stock has
doubled in price this year."
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