Evolution of the Dot-Com Companies and the e-Commerce Development

Electronic Commerce, commonly known as (electronic marketing) e-commerce or eCommerce, consists of the buying and selling of products or services over electronic systems such as the Internet and other computer networks. The amount of trade conducted electronically has grown extraordinarily with widespread Internet usage. The use of commerce is conducted in this way, spurring and drawing on innovations in electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection systems. Modern electronic commerce typically uses the World Wide Web at least at some point in the transaction's lifecycle, although it can encompass a wider range of technologies such as e-mail as well.

A large percentage of electronic commerce is conducted entirely electronically for virtual items such as access to premium content on a website, but most electronic commerce involves the transportation of physical items in some way. Online retailers are sometimes known as e-tailors and online retail is sometimes known as e-tail. Almost all big retailers have electronic commerce presence on the World Wide Web.

Electronic commerce that is conducted between businesses is referred to as business-to-business or B2B. B2B can be open to all interested parties (e.g. commodity exchange) or limited to specific, pre-qualified participants (private electronic market). Electronic commerce that is conducted between businesses and consumers, on the other hand, is referred to as business-to-consumer or B2C. This is the type of electronic commerce conducted by companies such as Amazon.com.

Electronic commerce is generally considered to be the sales aspect of e-business. It also consists of the exchange of data to facilitate the financing and payment aspects of the business transactions.

Timeline:

• In 1990, Tim Berners-Lee invented the World Wide Web, an internet-based hypermedia initiative for global information sharing while at CERN, the European Particle Physics Laboratory.
• In 1999, Business.com was acquired at USD7.5 million, while initially it was only cost USD150 thousand.
• The Dot-Com heat spread around the world especially in the United States of America and it had attracted large amount of venture capitals invested to the industry.
• In 2000, Dot-Com companies collapsed.
• In 2001, share prices of the web technology-based company like Yahoo.com had up-rising to a historical high level.
• In 2002, PayPal was acquired by eBay at USD1.5 billion. At the same year, Dell Computer Corporation had successfully transformed its business platform into an innovative e-commerce platform.
• In 2003, online bookstore Amazon.com declared its profit for the first year. At the same year, Google.com overcomes Yahoo.com as the world’s largest online search engine. The two founders of Google becomes Top 10 wealthiest man in the world.
• In 2004, the Maybank2u online banking services provided by Maybank raise high popularity. All the banks in Malaysia started to launch their own brand of online banking services.
• In 2005, the e-commerce best low-cost airline provided by AirAsia .com did exerts big pressure to the survival ability of Malaysian Airline.
• In 2006, a webcasting sharing website - YouTube.com was acquired by Google at a cost of USD1.65 billion.
• In 2007, Business.com was acquired at a cost of USD345 million.
• In 2008, facebook.com was acquired with a historical high price.