eBay Eachnet was founded in Shanghai. The founders were Shao Yibo and Tan Haiyin, who graduated from Harvard Business School in the United States. The two of them copied the American eBay to China. They were the only two people working in the company.

In 2003, eBay was preparing to enter the mainland market and directly bought one-third of Eachnet's shares.

Jack Ma saw the opportunity and immediately created Taobao. At the beginning, eBay was rich and wanted to buy Taobao together, but was ruthlessly rejected by Jack Ma.

As an international giant, eBay was directly slapped in the face by Jack Ma. The next year, it bought Eachnet for $150 million and prepared to kill Jack Ma.

At the end of the third quarter of 2004, eBay Eachnet had a total of 8.6 million users.

At that time, Eachnet users could conduct online cross-border transactions with more than 100 million users from America, Europe and Asia.

Although EachNet was very successful at the time, it soon lost to Jack Ma.

In 2015, EachNet's market share was 29.1%, while its competitor Taobao had 67.3%.