Over a Labor Day weekend in 1995, 28-year-old Pierre Omidyar began writing code for a website that would initially be called AuctionWeb. It was meant to offer an “honest and open marketplace” that would connect buyers to sellers directly. AuctionWeb went live on Sept. 3, 1995, with the first item purchased being Omidyar’s broken laser point for $14.83. Omidyar reached out to the buyer asking if he had accidentally purchased the defective item. He learned that the transaction was intentional because the buyer wanted the spare parts to build his own.