eBay Inc was formed as a sole proprietorship in September 1995 and was incorporated in California in May 1996. In April 1998, it was reincorporated in Delaware, and in September 1998, the company completed the initial public offering of its common stock. The Company enables commerce and payments on behalf of users, merchants, retailers and brands of all sizes. Its Marketplaces segment includes the ecommerce platform, ebay.com; other localized sites around the world such as eBay.de and eBay.co.uk; related commerce platforms, including its vertical shopping websites, such as StubHub, and its classifieds websites, such as Marktplaats.nl and mobile.de; and the advertising services business. The Marketplaces platforms are accessible through a traditional online experience (e.g., an Internet-connected computer), from mobile devices (e.g., smartphones and tablets), and to a limited extent. The Company faces competition from 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's operations are subject to laws and regulations that affect the ecommerce and payments industries in many countries where it operate.