eBay‘s acquired a 25% interest in Craig’s List. Craig says:
“…with the idea of establishing checks and balances, mostly on myself, I made a gift of some equity in craigslist to a guy who was working with me at the time. (I won’t name him, out of respect for his privacy)
I figured it didn’t matter, since everyone agreed that the equity had only symbolic value, not dollar value.
Well, the guy later left the company, and decided to sell his equity, which i learned he had every legal right to do.
He met with eBay, and eBay in turn approached us to see how we would feel about them getting involved with us.”
This (somewhat) implies that the company’s participation was, well, involuntary–and yet eBay seems like an excellent fit, so I would imagine this is a case of this third party initiating a discussion that becomes clear as a new direction, especially given the other offers Craig has (reportedly) turned down. Well, this business is never boring–congrats, everyone!
eBay‘s acquired a 25% interest in Craig’s List. Craig says:
“…with the idea of establishing checks and balances, mostly on myself, I made a gift of some equity in craigslist to a guy who was working with me at the time. (I won’t name him, out of respect for his privacy)
I figured it didn’t matter, since everyone agreed that the equity had only symbolic value, not dollar value.
Well, the guy later left the company, and decided to sell his equity, which i learned he had every legal right to do.
He met with eBay, and eBay in turn approached us to see how we would feel about them getting involved with us.”
This (somewhat) implies that the company’s participation was, well, involuntary–and yet eBay seems like an excellent fit, so I would imagine this is a case of this third party initiating a discussion that becomes clear as a new direction, especially given the other offers Craig has (reportedly) turned down. Well, this business is never boring–congrats, everyone!