An eBay Inc executive said on Thursday the auction company bought a stake in Craigslist partly to block rival web company Google Inc from acquiring the classified ads business."That was a consideration," said Garrett Price, who was eBay's principal deal maker in its $32 million agreement to acquire a 28.4 percent stake in Craigslist in 2004. He spoke under cross-examination in a trial taking place in Delaware.
Earlier in the week, eBay founder Pierre Omidyar said Craigslist's founder Craig Newmark seemed distressed by his dealings with an unnamed party that was in talks to buy a stake in Craigslist, but was "hostile to its mission."
Msg#: 4040870 posted 9:31 pm on Dec 10, 2009 (gmt 0)
Yeah, not too sure about this. This is probably a BS statement from the eBay exec (sorry for the language). IMHO the main aim of the the Craigslist stake was to eventually acquire the whole site, they clearly say that in the article too.
Big corporations are good and needed (tens of thousands of employees to build Amazon or eBay, that's good jobs that are needed by the people) but haveing some small, independant and against the grain player is also good.
Congrats to Craigslist and I hope they remain independent, and huge while being small, for a long time.
Msg#: 4040870 posted 12:38 am on Dec 12, 2009 (gmt 0)
signor_john, I know you're joking, but really, honestly, I think all of the "buy dead popes" ads really did contribute to accelerating my paid listing blindness on Google. Of course, it mostly made me think that EBay was stupid.