From Deseret News archives:
EBay Inc. buys 25% stake in online network craigslist
Financial terms of the deal weren't disclosed. The stake was purchased from a former craigslist employee who first contacted eBay with the proposed sale, craigslist officials said.
The auction giant in turn approached craigslist, which has prided itself on being a profitable, community-driven, privately run business and maintains it is not looking for corporate buyers.
"Craigslist has never sought any outside money, and that's not going to change," said Susan MacTavish Best, a spokeswoman for the San Francisco-based network.
Before buying the stake, eBay and craigslist officials met to discuss mutual interests. "In the business world, you don't invest in a company unless both sides are of similar belief and unless both sides felt they were going to get something out of it," said eBay spokesman Hani Durzy.
Both companies cited common philosophies and business synergies.
"Like craigslist, eBay is about helping folks get everyday stuff done," Craig Newmark, craigslist founder and chairman, wrote in his Web log Friday. "Basically, we're both about building community, and humanizing and democratizing the 'Net, and there's gotta be more of that."
