Sunday, May 11, 2008

Craig's List Opens the Door to a Sale.

In a recent Financial Times article, craigslist CEO Jim Buckmaster, opended the door to selling Craig's List.

"Among the suggestions that Ebay has made to Craigslist's controlling shareholders, according to court papers released earlier this month, was to buy the company outright.

"If someone wanted to come up with a dump truck and give us a lot of cash we wouldn't say no," Mr Buckmaster says. But he adds that he and Mr Newmark have no interest in being answerable to an outside shareholder who would interfere with their unconventional principles."
(Bold is mine)

Jim, you don't need to worry about answering to an outside shareholder, you and Craig would be out the door before the ink was dry on the agreement. Selling to eBay seems a no-brainer to me.

My guess is a sale will be the ultimate outcome of the legal battle they find themselves engaged in with eBay and I'm sure eBay would love to buy the rest of the company. So I think it is just a matter of time.

I do have a suggestion for Craig and Jim though; when you get your billions from the sale just come up with an auction site to compete against eBay and continue your mission to enable person-to-person commerce. Wouldn't that be ironic?

2 comments:

Rich said...

I commented extensively on this possible purchase/takeover this am on my blog Randy. I think the graphic speaks volumes.---Rich

Anonymous said...

re ebay alternative: could they stick a noncompete in the sale?

that's how they bound and gagged Pierre. Maybe even the Veggie Libel Laws.

This Brave New World frigging SUCKS...