06:34 
Wed, 7th January 2009
Craigslist’s Feelings Are Hurt; Lashes Back at EBay
Love is so breakable — here today, absent tomorrow. And so it goes for eBay and Craigslist. What started discover as a unplanned relation (eBay has a 25 percent, eld stake in the categorised site) has overturned into an grotesque lowercase fight.
EBay launched the prototypal move yesterday by filing a lawsuit against Craigslist. The claim, though vague, is that Craigslist "adopted measures" that weaken eBay’s wager by more than 10 percent. How such money are we conversation about? Unclear. But let’s adopt Henry Blodget’s $5 1000000000 estimated valuation of Craigslist is at small in the ballpark. If so, we’re conversation most reaction eBay’s $1.25 1000000000 wager by $125 million.
Craigslist, equally vague, denied it has finished anything to weaken the continuance of eBay’s equity.
"We are astonied and frustrated by Ebay’s unfounded allegations,
which came to us discover of the blue, without some endeavor to vow in a
dialogue with us. Coming from a investor that views Craigslist as a prime
competitor, filing meet without so such as mentioning these assertions
beforehand seems unethical, and hints at ulterior motives," the journal said.
It’s a oppositeness from Craig Newmark’s past remarks. In an discourse with TechTicker, Newmark said that eBay has "objectives and problems that are kindred to what [Craigslist] has — and that’s good."
Still, we’re unceasingly peculiar most what "measures" Craigslist could hit adoptive that would weewee soured eBay so much. Got an idea? Drop us a line.
Photo: Flickr/TechPolicySummit
Melted From: Epicenter
Tags: assertions, casual relationship, competitor, craig newmark, craigslist, dialogue, ebay, epicenter, feelings, filing a lawsuit, henry blodget, how much money, lashes, line photo, measures, minority stake, out of the blue, shareholder, ulterior motives, unfounded allegations
