eBay Acquires Minority Interest in craigslist

eBay Acquires Minority Interest in 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.

Craig 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.

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.

4 Comments

01. Craig Newmark - Aug 13, 2004 - 23:55

Joi, thanks!

hey, please help me out, please make it clear that we did NOT sell to eBay, it was a former employee as articulated in my blog.

thanks!

Craig

02. Antoin O Lachtnain - Aug 14, 2004 - 07:34

But Craig had a preemption right, right? So he could have bought the shares himself if he'd wanted to, no? (Not that I'm knocking Craig, I hope it all works out well.)

03. Synthie - Aug 17, 2004 - 11:30

So in other words, Craig owned 75% of the shares and the guy who sold owned 25%? Are there any other shareholders? Does eBay own 25% now? Did all of that 25% come from the other guy, not Craig?

Will the price eBay paid be in their next 10-Q or 8-K?

04. stephen c brown - Feb 01, 2007 - 11:41

thank you craigslist for comment placement

1 TrackBacks

Listed below are links to blogs that reference this entry: eBay Acquires Minority Interest in craigslist.

TrackBack URL for this entry: https://joi.ito.com/mt/mt-tb.cgi/2696

eBay aquires minority stake in craigslist from Tech
August 14, 2004 12:22 AM

Via JoiIto, 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 everywhe... Read More

Joi Ito's Web

Joi Ito's conversation with the living web.