eBay Aquires Minority Interest in Craiglist

This had a certain inevitable feeling to it, but it is still interesting:

SAN FRANCISCO & SAN JOSE, Calif.–(BUSINESS WIRE)–Aug. 13, 2004–eBay, The World’s Online Marketplace (Nasdaq:EBAY) (www.ebay.com), and craigslist, an online community featuring classifieds and forums (www.craigslist.org), announced today that eBay has acquired a preexisting minority ownership interest in craigslist of approximately 25%. The resulting relationship will allow eBay and craigslist to share expertise, resources, and creativity on behalf of online communities everywhere.

[Update 8/14/2004] The NY Times adds color today, reporting that the price is “…thought by some analysts to be in the low tens of millions”. The Times also quotes unnamed Craigslist executives as saying that the company “…has had trouble coping with threats from classified advertising scam artists and spammers” and that helped lead it into eBay’s protective arms.

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