Filed Under “gossip”
In a press release from Ebay, they say “in order to safeguard its four-year financial investment in craigslist, eBay today filed a lawsuit … challenging recent transactions implemented by craigslist’s board of directors, consisting of Craig Newmark and Jim Buckmaster.”
Further, they say that “In January 2008 … (they) adopted measures that, among other things, unfairly diluted eBay’s economic interest in craigslist by more than 10 percent”, and they say that “we were surprised by recent unilateral actions”
In an appropriately named Blog post, a posting called “Tainted Love“, Craig says “Ebay has absolutely no reason to feel threatened here – unless of course they’re contemplating a hostile takeover of craigslist, or the sale of Ebay’s stake in craigslist to an unfriendly party. (In which case, they’re out of luck.)”
So a few terms keep coming up… Ebay says that Craigslist made “unilateral actions” which lead to the Ebay investment being left “unfairly diluted” … I’m sure more about this will come to light soon enough.
