tungwaiyip.info

home

about me

links

my software

Media

Yucatán Photos

St Lucia Photos

Photo Album

Videos

Blog

< August 2004 >
SuMoTuWeThFrSa
1 2 3 4 5 6 7
8 91011121314
15161718192021
22232425262728
293031    

past articles »

Click for San Francisco, California Forecast

San Francisco, USA

 

eBay Acquires Minority Interest in craigslist

EBay bought 25% stake in Craigslist, as founder Craig commented in his blog. This is not your usual "community effort sold out to big corporation" story. It begins when craigslist first established as company, Craig made a gift of some equity to a guy who was working with him at the time. He reasons that the equity really had more symbolic than actual dollar value. Given the success of craigslist, this is probably self-deprecation. Indeed, this person latter left the company and decided to sold his stake to eBay. The irony is this person is going to make all the monetary gain while Craig would likely to shoulder all the criticism.

Being a for-profit company or owned by big corporation is not necessary a bad thing. People need to make a living and an office need money to run. Even slashdot.org a fervently independent outlet is now owned by VA Software. But craigslist has made a name of itself by strongly resist to commercialize. The web design is basic and text only, entirely free from advertisement. All services are free with the exception of job posting as its sole income. Had it decided to brought in venture capital, craigslist has every potential to be a contender to eBay, a 50 billion dollars corporate giant. But it choose to stay this way, running like a struggling non-profit, forgoing the dream of uncountable wealth.

While it might look a mistake now that he gave away equity to a person who later sell to big corporation and profited, I believe he acted in the interest of the organization at that time. He understand the website that bears his name is more than himself. By making some form of employee ownership he could make it a better and more accountable organization.

I can only hope the ownership change will strengthen craigslist's service without straying it from its mission. No matter what it is going to be, craigslist has already made its name as an antidote to the dot-com frenzy.

2004.08.13 [] - comments

 

 

blog comments powered by Disqus

past articles »

 

BBC News

 

Korea ship: Third officer 'had helm' (18 Apr 2014)

 

Obama cautious over Ukraine deal (18 Apr 2014)

 

Author Gabriel Garcia Marquez dies (17 Apr 2014)

 

Deadly attack on South Sudan UN base (17 Apr 2014)

 

'Six dead' in Everest avalanche (18 Apr 2014)

 

China jails corruption activists (18 Apr 2014)

 

Ex-BP worker fined over shares trade (18 Apr 2014)

 

Peru evacuates Ubinas volcano area (18 Apr 2014)

 

French troops free Mali aid workers (17 Apr 2014)

 

Rob Ford launches re-election bid (18 Apr 2014)

more »

 

Slashdot News for nerds, stuff that matters

 

'Accidental' Siberian Mummies Part of Mysterious Ancient Arctic Civilization (2014-04-18T00:50:00Z)

 

NASA Proposes "Water World" Theory For Origin of Life (2014-04-18T00:32:00Z)

 

In a Cloning First, Scientists Create Stem Cells From Adults (2014-04-17T23:51:00Z)

 

MIT Designs Tsunami Proof Floating Nuclear Reactor (2014-04-17T23:07:00Z)

 

In Mississippi, Gov't Text Messages Are Officially Public Records (2014-04-17T22:23:00Z)

 

Click Like? You May Have Given Up the Right To Sue (2014-04-17T21:42:00Z)

 

Mercedes Pooh-Poohs Tesla, Says It Has "Limited Potential" (2014-04-17T21:01:00Z)

 

Ask Slashdot: Which Router Firmware For Bandwidth Management? (2014-04-17T20:18:00Z)

more »

 

TechPsychic Tech Rumors and Invented News

more »

 

SF Gate

 

Bay Area News (7 Jan 2012)

 

City Insider (11 Feb 2012)

 

Crime Scene (13 Feb 2012)

 

C.W Newius Column (10 Jan 2012)

 

C.W. Nevius Blog (11 Feb 2012)

 

Education News (10 Jan 2012)

 

KALW (11 Feb 2012)

 

Matier and Ross Blog (11 Feb 2012)

 

Nissan Leaf buyers in some markets offered free charging (16 Apr 2014)

 

Home prices jump by double digits in last year in Bay Area (16 Apr 2014)

 

Tech startups raking in venture capital, but face threat (16 Apr 2014)

 

Beepi offers a new way to buy, sell used cars (16 Apr 2014)

 

Google files for patent on contact lens camera (16 Apr 2014)

 

Mt. Gox bitcoin exchange bankruptcy plan rejected by court (16 Apr 2014)

more »

 

Asia Times Online

 

Asia bucks military spending decline (15 Apr 2014)

 

Breaking bad in southern NATOstan (15 Apr 2014)

 

US veterans promote 'right to heal' (15 Apr 2014)

 

New China-India era no shoo-in under Modi (15 Apr 2014)

 

Doubts cloud China's urbanization drive (15 Apr 2014)

 

CREDIT BUBBLE BULLETIN Financial stability (15 Apr 2014)

more »

 


Site feed Updated: 2014-Apr-18 00:00