Follow TG Daily

Most Discussed Articles

More Discussions»

Articles By Tag

amd Android antitrust apple ARM atom blackberry china google Green Dam hp ibm intel iphone microsoft mozilla netbook nintendo nokia PS3 quantum computing Samsung security smartphone Sony twitter upgrade wii Windows 7 Xbox 360
Read more at
   SmallNetBuilder.com
Try our new and free
Price Comparison Service

Partners

Reviews & Rankings



Craigslist asks eBay, “Who is calling the kettle black?”

PDF Print E-mail
Business and Law
By Humphrey Cheung   
Tuesday, May 06, 2008 09:58
San Francisco (CA) – Craigslist CEO Jim Buckmaster has posted another blog article which criticizes eBay for its lawsuit.  In the post titled “Kettles and Pots“, Buckmaster outlines what eBay is suing for, namely to stop Craigslist’s poison pill and right of first refusal contract clauses for major shareholders.  He also points out that protections Craigslist has put in place have actually been used by eBay in the past.

“It’s worth pointing out that Ebay is suing us for implementing protections for craigslist that it clearly believes are perfectly appropriate for protecting itself,” says Buckmaster.

Buckmaster goes on to talk about his company’s implementation of the “poison pill” and helpfully links to an SEC filing of eBay using the same tactic to protect itself back in 2004.

Craigslist is a privately held company, but that didn't stop eBay from acquiring shares from a former Craigslist employee who sold his stake for an undisclosed sum (and he/she probably laughed all the way to the bank).  eBay is undoubtedly trying to obtain a larger share of the company, but has apparently been stopped by Craigslist’s issuance of more shares – something which effectively dilutes eBay’s stake.

One of the Craigslist protections that eBay is suing to stop is its “right of first refusal” which means Craigslist gets the first look and buy/sell opportunity for any shareholder transaction.  Buckmaster points out that eBay has “from time to time bound shareholders of Ebay and its various subsidiaries by right of first refusal agreements.”

So it looks like Craigslist is happy to make this a very public battle and it could definitely work to its favor as its adored by millions of netizens for its low/no fee ads.  We definitely expect more public statements from Craigslist.
Comments (13)Add Comment
May 06, 2008 11:37     
May 07, 2008 07:35     
May 07, 2008 09:11     
May 07, 2008 10:11     
May 07, 2008 14:33     
May 08, 2008 10:16     
May 10, 2008 13:36     
May 11, 2008 00:25     
May 28, 2008 02:44     
Jul 09, 2008 09:44     
Jul 10, 2008 12:22     
Oct 20, 2008 06:38     
Oct 20, 2008 06:41     

Write comment
This content has been locked. You can no longer post any comment.

busy
Recommend article:
Slashdot
Digg
Delicious
Technorati
YahooMyWeb
Stumble
NewsVine
Ma.gnolia
Subscribe to the TG Daily Newsletter
Email:
 

Shop Keywords: craigslist, buckmaster, ebay, auction, ads, lawsuit

-view -business -118 --118
Powered By Page_Cache by Ircmaxell
Generated in 0.811504840851 Seconds