728_header.jpg (23748 bytes)
 Home 
 EB Blog 
 AB Blog 
 Letters 
 Podcasts 
 ABTV 
 Forums 
 EPIS 
 PR Service 
 Classifieds 
 EKG 
 Ratings 
EcommerceBytes-NewsFlash, Number 2179 - December 11, 2009 - ISSN 1539-5065    3 of 4

Craigslist Stock Suitors Included Yahoo, Salon, Kleiner Perkins, Bertelsmann

By Ina Steiner
EcommerceBytes.com
December 11, 2009




Email This Story to a Friend

Craigslist spoke to Yahoo, Salon.com, the venture arm of Bertelsmann in addition to Google and Warburg Pincus about purchasing shares of stock from disgruntled stockholder Phillip Knowlton in 2004. Craigslist also talked to Mr. Knowlton about acquiring his shares directly. The company had also received an inquiry from Kleiner Perkins, but they were unwilling to sign an NDA.

Craigslist CEO Jim Buckmaster revealed the names of companies interested in Craigslist stock during his testimony in the eBay v Craigslist trial unfolding in Georgetown Delaware.

Mr. Buckmaster said he had a number of meetings with Google - somewhere between 5 - 10 meetings. Google was interested in purchasing Phillip Knowlton's shares, but it became apparent to them that Google only wanted to purchase 100 percent of the company.

The first meeting Mr. Buckmaster had with eBay was May 2004 with Garrett Price over beer and chicken wings. "Garrett was very cordial and complimentary. He knew the skeleton of the negotiations with Google and why they had broken off." Mr. Price said he knew people personally in the Google M&A (Mergers and Acquisitions) department there.

"He (Mr. Price) said unlike Google, it was eBay's common practice to purchase minority stake and used Mercardo Libre" as an example.

About the author:

Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). Follow her on Twitter at @ecommercebytes and send news tips to ina@ecommercebytes.com.

You may quote up to 50 words of any article on the condition that you attribute the article to EcommerceBytes.com and either link to the original article or to www.EcommerceBytes.com.
All other use is prohibited.

Sign up for our Email Newsletters

Email This Story to a Friend
Email this story to a friend.


3 of 4


Sponsored Ad