Ebay Inc (NASDAQ:EBAY) operates marketplace platforms that connect buyers and sellers worldwide. The company’s Marketplace platform includes its online marketplace at ebay.com and the eBay suite of mobile apps. Its platforms enable users to list, buy, sell, and pay for items through various online, mobile, and offline channels that include retailers, distributors, liquidators, import and export companies, auctioneers, catalog and mail-order companies, classifieds, directories, search engines, commerce participants, shopping channels, and networks. The company was founded in 1995 and is headquartered in San Jose, California.

After Jamie Iannone took over as CEO in April 27, 2020, he reduced the number of steps in the listing process to make adding products less cumbersome in eBay. He also introduced QR coding to make pick-ups more efficient and focused on “non-new in-season” products to better utilize the existing buyer and seller communities.

He also introduced tools and features that better enable small businesses to grow their enterprises. The company has simplified registrations and enabled storefronts on mobile devices. Additionally, eBay utilized AI teams to remove “points of friction.” One addition involved improved filtering to help customers find the items they want. Finally, as agreements with PayPal expire, eBay has added managed payments in several countries to foster a digital wallet experience.

Jamie Iannone announced on the Q4 earning call that eBay grew 86% over the course of the year. He also added that eBay acquired 11 million new buyers in 2020, and the frequency and retention of these customers resembled pre-pandemic levels. In 2020, revenue increased by 19% to just under $10.3 billion. Also, GAAP net income from continuing operations rose to just over $2.5 billion, or $3.58 per share, up almost 68% from year-ago levels.

EBay has seen a significant turnaround in 2020. Jamie Iannone’s strategy to make the platform more user-friendly for buyers and sellers alike may have added an additional revenue boost. Ebay’s shareholders have witnessed an increase in support from the world’s most elite money managers lately. eBay Inc was in 53 hedge funds’ portfolios at the end of December 2020.

Therefore, eBay stock ownership is best for patient investors who believe that eBay will comeback and continue to grow for the next decade.