eBay Acquires Minority Interest in craigslistCraig shares his account of this about it on his blog. Craig mentions on his blog that it was a former employee who sold his shares to eBay and that the company was not sold or money invested into craigslist.
SAN FRANCISCO & SAN JOSE, Calif.--(BUSINESS WIRE)--Aug. 13, 2004--eBay, The World's Online Marketplace (Nasdaq:EBAY) (www.ebay.com), and craigslist, an online community featuring classifieds and forums (www.craigslist.org), announced today that eBay has acquired a preexisting minority ownership interest in craigslist of approximately 25%. The resulting relationship will allow eBay and craigslist to share expertise, resources, and creativity on behalf of online communities everywhere.
I can imagine some people complaining about this, but I think this is a good direction for craigslist to go. Congrats to all involved. I look forward to seeing how these communities will interact and how eBay helps craigslist and vice versa.