To know the history of online business, first, we should know that what is an online business. Online business is that business that shares their information through the internet. That exchange of information can be about the products, services, or anything about selling or purchasing the things. Online businesses could be done by groups or individuals and they can do their essential activities of any kind of business via online business.
An online business can be done by your mobile or desktop, no need for any big setup. Online business has evolved in many ways now, since its start. And its keep changing the way we live, shop and do our business.
If you want to understand the online business, you have to look at its history. So, to know the history of online business, keep reading the further article.
History of Online Business
Online business was introduced about 40 years ago. Since then, it keeps going and doing help to grow many businesses. Online business services have new technologies and improvements in internet connectivity. Online business provides security with the payment gateways, the world spread consumers and business adoption.
It was the time of 1948-1949. At that time, Berlin blockade and airlift with a system of ordering goods through the telex. Many industries were dependent on that system. After that in 1975, the computer-to-computer electronic data interchange introduced and this system was enough to handle online business transactions.
In the search of the history of online business, we have to go deeper, have a look.
Timeline of online business
In 1969, CompuServe was founded by electrical engineering student’s Dr John R. Goltz and Jeffery Wilkins. CompuServe technology was built for utilizing a dial-up connection.
After that in the 1980s, CompuServe has introduced the earliest forms of internet connectivity and emails services to the public. Then it dominates the online platform through the mid-1990s.
Online shopping invents by Michael Aldrich in 1979.
Michael Aldrich introduced online shopping in 1979. He connected a modified TV set to a transaction-processing computer through the telephone line. This invention of Michael Aldrich has opened the closed information system and shared it with outside parties for secure data transmission. This technology then becomes the foundation for modern online business.
Boston Computer Exchange was launched in 1982.
Boston Computer Exchange was the world’s first e-commerce company, which was launched in 1982. The primary function of this company was to serve an online market for people, who were interested in selling their used computers.
In 1982, France has launched Minitel. It was an online service and was used as a Videotex terminal machine. This machine was accessed through telephone lines and was free to telephone subscribers. Videotex terminal machine connected millions of their users to a computing networking at that time.
Till 1997, over seven million homes were had Minitel terminals. The Minitel system was very popular till the World Wide Web arrived.
The World Wide Web arrives in the early 90s.
Tim Berners-Lee and Robert Cailliau had published a proposal to build a ‘Hypertext Project’ in 1990, on the name of World Wide Web. The idea for this project was created after the Dynatex SGML reader got licensed by CERN.
In the same year, Berners-Lee created the first web server and wrote about the first web browser. After that, he made a debut on the web on August 6, 1991, as a service available for the public on the internet. After combining the task of Hypertext to the internet, Berners-Lee develops HTML, URL, and HTTP for the world.
The National Science Foundation lifted its restriction on the uses of NET for commercial in 1991. After lifting the restrictions, the online business grows exponentially. The NSF then started charging a fee for registering domain names, in September 1995. By 1995, the number of domain names grew to 2 million.
Major marketplaces emerge in the 1990s
The first online business site was Amazon. It was introduced in 1995 as an online bookstore but later it grew and become the first online retailer of everything in the world. At present, many online business sites doing big business with the help of the internet and they are very successful.
This was the history of online business in brief. I hope it will be useful for you and would be answerable of your all questions.