eBay sues Craigslist which it part owns

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eBay are reportedly suing Craigslist, the online classified listings site which it owns almost a third of. eBay acquired the share in Craigslist in 2004, but have never taken an active role in managing the company, although they have developed competing sites such as Kijiji and Gumtree.

eBay assert that Craigslist founder Craig Newmark and CEO Jim Buckmaster have taken actions which would dilute their 28.4% stake.

One has to ponder just how welcome eBay’s stakeholding in Craigslist has been. Is it time to sell out and concentrate on eBay’s own classified directories leaving Craigslist to sink or swim on its own?

5 Responses

  1. How do you pursue a hostile takeover of a private company? Either the shareholders want to sell or they don’t.

  2. Freddy:

    When you’ve got 30%, you just got find a 21% more right? Although there aren’t many shareholders, as I understand it.

    And yes, people either want to sell or not… but eBay’s chequebook is pretty big and when you keep adding zeros, it can be persuasive. ;O)



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