Not long ago, eBay was experiencing some tough times, especially with the lessening of interest in its traditional auction system. Today, eBay is on another roll, even making the cover of a February 2013 issue of Fortune. Why is eBay doing so well today?

Here’s the scoop from J.P. Mangalindan, a Fortune writer: “Under [CEO John] Donahoe’s leadership, eBay has undergone a remarkable transformation, shifting from its original (and flailing) mission — online auctions — to a full-service E-commerce operation that helps big retailers such as Home Depot, Macy’s, and hundreds of others navigate the complex world of mobile payments, online comparison shopping, and same-day delivery. In other words, eBay is quickly emerging as the shopkeeper’s best answer to Amazon, which continues to disrupt the retail world with deep discounts and a dizzying array of new businesses. ‘Retailers are coming to us and saying, We need to have a technology partner,’ says Donahoe.”

Click the image to read Mangalindan’s in-depth article.