tungwaiyip.info

home

about me

links

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

 

Juan Guaidó: US backs opposition leader as Venezuela president (24 Jan 2019)

 

Thousands gather for rally against Venezuela's Maduro (23 Jan 2019)

 

Speedboat killer Jack Shepherd hands himself in to police (23 Jan 2019)

 

A bridge ending centuries of commuter chaos (23 Jan 2019)

 

Trump team accused of posting edited images on social media (23 Jan 2019)

 

Facebook 'sorry' for distressing suicide posts on Instagram (23 Jan 2019)

 

Nurse arrested over US care home patient pregnancy (23 Jan 2019)

 

Five people dead in SunTrust Bank shooting in Florida (24 Jan 2019)

 

Christine Welch: How this American's Chinese song went viral in China (24 Jan 2019)

 

Malaysia set to elect new king after unprecedented abdication (24 Jan 2019)

more »

 

SF Gate

 

Ship traffic, January 24 (23 Jan 2019)

 

Viacom buys PlutoTV streaming service (23 Jan 2019)

 

EU fines Mastercard million over fees merchants forced to pay (22 Jan 2019)

 

At Davos, Brazilian leader pledges to work ‘in harmony with world’ on climate (22 Jan 2019)

 

Ship traffic, January 23 (22 Jan 2019)

 

'I'm so fed up': With shoplifting all too frequent in Hayes Valley, some merchants are at wits' end (22 Jan 2019)

more »


Site feed Updated: 2019-Jan-23 18:00