Menu
eBay sells stake in Craigslist, which responds with Shakespeare quote

eBay sells stake in Craigslist, which responds with Shakespeare quote

The sale was part of a confidential agreement between the two firms that includes dismissal of litigation

An eBay, Inc. sign on the company's campus

An eBay, Inc. sign on the company's campus

EBay has sold its 28.4 per cent ownership stake in Craigslist as part of an agreement between the companies announced Friday .

The financial terms of the deal were not disclosed, but eBay said the companies have also agreed to end the outstanding litigation between them. The online auction house paid $US32 million in 2004 for the stake in Craigslist, which turned the classified ad market on its head.

Since then, the relationship between the two firms could best be described as contentious. In 2008, eBay sued Craigslist alleging it had diluted eBay's stake in the business and taken eBay's board seat away. Craigslist fired back that eBay had used its position on the board to gain an unfair competitive advantage.

Craigslist CEO, Jim Buckmaster, didn't have much to say about the news. The sole commentary he offered in a post on Craigslist's blog entitled "Exit, Stage Left" was a quote from William Shakespeare's "All's Well that Ends Well." The quote begins: "Love all, trust a few."

All of this comes ahead of eBay's planned split from PayPal, the payment processing company it purchased in 2002. Last year, the auction company announced that it would be spinning PayPal off again into an independent company, and expected the transaction to close during the second half of this year.

Follow Us

Join the New Zealand Reseller News newsletter!

Error: Please check your email address.

Tags business issuesCraigslistebayinvestments

Slideshows

Top 50 defining moments of the New Zealand channel in 2016

Top 50 defining moments of the New Zealand channel in 2016

Reseller News looks back on a tumultuous 12 months for the New Zealand channel, assessing the fallout from a year of sizeable industry change. Whether it be local or global mergers and acquisitions, distribution deals or job changes, the channel that started the year differs somewhat to the one set to finish it - Reseller News assesses the key moments that made 2016.​

Top 50 defining moments of the New Zealand channel in 2016
​Hewlett Packard Enterprise honours high achieving NZ channel

​Hewlett Packard Enterprise honours high achieving NZ channel

Hewlett Packard Enterprise honoured its top performing Kiwi partners at the second running of its HPE Partner Awards in New Zealand, held at a glitzy ceremony in Auckland. Recognising excellence across eight categories - from distributors to resellers - the tech giant celebrated its first year as a standalone company, following its official split from HP in 2015.

​Hewlett Packard Enterprise honours high achieving NZ channel
Nutanix treats channel partners to Christmas cruise

Nutanix treats channel partners to Christmas cruise

Nutanix recently took to the seas for a Christmas Cruise around Sydney Harbour with its Australia and New Zealand staff, customers and partners to celebrate a stellar year for the vendor. With the sun out, they were all smiles and mingled over drinks and food.

Nutanix treats channel partners to Christmas cruise
Show Comments