eBay celebrating 20 years of online shopping

It has been 20 years since a software engineer launched the website on Labor Day weekend.

Pierre Omidyar first called the site "Auctionweb." A broken laser pointer was the first item sold. A collector bought it for $14.38.

Auctionweb became eBay in 1997.

It is now the world's tenth-largest retail brand, with 157 million active users and at least 800 million items for sale at any given time.