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eBay Buys 25% of CraigList

eBay Buys 25% of CraigList

eBay Buys 25% of craiglist

eBay Inc. today purchased a 25 percent pre-existing minority stake in San Francisco-based craigslist, a popular online network of classified ads and forums. The 25% stake was purchased from a former craigslist employee who first contacted eBay with the proposed sale, according to craigslist officials.

With dedicated sites in 45 cities around the world, craigslist is an online meeting place for millions of people looking to share ideas, meet a friend, find a job, or locate an apartment. The site is a magnet for people who want to trade in such goods as tickets, furniture, cars, and sporting goods.

“craigslist is an excellent example of how the Internet brings people together,” said Meg Whitman, president and CEO of eBay. “Whether it’s to trade goods, help neighbors or speak out on important issues, craigslist has become the online gathering place for local communities. I look forward to working with the craigslist team as its vision moves into the future.”

“Craigslist has never sought any outside money, and that’s not going to change,” spokeswoman Susan MacTavish Best said.

Craig explained the situation on his blog “Although I never figured that part of craigslist might be owned by a public company, Meg Whitman and Pierre Omidyar showed that they were interested in us for all the right reasons.

Like craigslist, eBay is about helping folks get everyday stuff done, on a level playing field – they emphasize trustworthiness and reputation, and try really hard to listen to people. Basically, we’re both about building community, and humanizing and democratizing the ‘net, and there’s gotta be more of that.”

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Loren Baker

Loren Baker is the Founder of SEJ, an Advisor at Alpha Brand Media and runs Foundation Digital, a digital marketing ... [Read full bio]

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