eBay Buys One Quarter Of Craigslist

from the and,-then-again... dept

We had just been mentioning the ridiculous notion that Craigslist might want to go public, and suddenly... they've sold one-quarter of the company to eBay. That was fairly unexpected, because from everything that had been said, they didn't need much in the form of additional working capital. The article discussing the deal points out that both companies are built up around loyal communities, but I'm not sure the two communities are all that similar (even when they overlap). In fact, it's not surprising that some folks on Craigslist seem unhappy with the deal (though others think it's wonderful). Craig, himself, has an interesting explanation of the deal, which suggests they didn't really need the working capital, but through a set of somewhat random events, the offer came about and made sense. Should be interesting to see what comes next.

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  1. identicon
    Adam, 13 Aug 2004 @ 10:42am

    Wow...

    Craig, himself, was on the radio yesterday morning and he said that there were no plans for an IPO, and that although they kept having VCs approach them, they aren't in need of funding or investment.

    I suppose it could just be a liquidity event.

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