“It is believed to be owned principally by Newmark, Buckmaster, and eBay (the three board members). eBay owns approximately 25%, and Newmark is believed to own the largest stake.”
Given how eBay got its own Craigslist clone and is suing them, I’d say CL is far from long-run profit maximizing.
Yeah, eBay is a hostile shareholder. I believe Craig gave an early employee/cofounder 25% of the company in a verbal agreement and that verbal 25% later became worth a lot of money.
What investors?
Given how eBay got its own Craigslist clone and is suing them, I’d say CL is far from long-run profit maximizing.
I wasn’t familiar with the lawsuit, that’s good evidence.
Yeah, eBay is a hostile shareholder. I believe Craig gave an early employee/cofounder 25% of the company in a verbal agreement and that verbal 25% later became worth a lot of money.