History & Evolution of E-Commerce...

In this era, e-commerce also known as electronic commerce is quite common and popular as numbers of internet user is growth rapidly in the world. E-commerce in sense of having trading of information, products or services over electronic systems. E-commerce are include business-to-business (B2B) and Business-to-consumer (B2C). According to a study by The Boston Consulting Group (BCG), one-forth of all US business-to-business purchasing will be done online by the year 2003.

Existence of World Wide Web in early 1990s by Tim Berners-Lee which make an opportunity to form an e-commerce environment. In an early development of e-commerce, electronic data interchange (EDI) and Electronic Funds Transfer (EFT) are used. EDI can formally defined as 'The transfer of structured data, by agreed message standards, from one computer system to another without human intervention'. While, EFT refers to computer based systems used to perform financial transactions electronically.

In 1994, internet began to advance in popularity among the general public. While, Netscape released the Navigator browser in October under the code name Mozilla. The 1st e-commerce is form by Pizza Hut which offered pizza ordering on its web page.

In 1995, Amazon.com launched by Jeff Bezos and eBay.com founded by computer programmer Pierre Omidyar as Auction Web which both are most popular and names in e-commerce until today.

In 1998, development of secutiy protocols (eg. HTTP) and Digital Subsciber Line (DSL) which allowed rapid acces and a persistent connection to the internet. In fact, people will spend more time online.
With the developement of internet, its create great numbers of business companies in US and Western Europe represent their services in World Wide Web.

In 2000, there is a dot-com burst and make numbers of e-commerce companies shut down. Not only that , it created a stock market bubble ( in financial markets term applied to a rise or boom in the share prices of stocks of a particular industry). The bubble caused an overvaluation of the company.

After the dot-com collapse in end of 2001 , people learn from the failure and make the largest form of e-commerce, B2B model had around $700 billion in transaction.

Source:http://www.ecommerce-land.com/history_ecommerce.html