3 ms·

Can someone please tell me why this matters?

greglindahl 11y ago
It's fairly safe to say that it doesn't. The price wasn't announced, and does anyone here really care if eBay was suing Craigslist and vice versa? So it's a piece of financial news of interest to anyone following eBay's stock, but not really to anyone else.
pgrote 11y ago
I think the important part is that it ends litigation between the companies, so any acquisitions of either ebay or craigslist would be easier.
- cft 11y ago
  Time to buy ebay stock. There will probably be an aquisition with ~25% premium
  - hueving 11y ago
    If it were that certain, the price would have reflected that.
    - minot 11y ago
      Yes, which means there is no point in buying eBay anymore
pbreit 11y ago
It gets rid of a tiny legal uncertainty. Much more significantly is that Ebay is apparently walking away from a massive financial gain and potentially even larger business gain by never having figured out any way to take advantage of Craigslist assets.
wpietri 11y ago
For me it's the resolution to a very long piece of startup drama. As I recall it, an early CL employee got equity as a gift, and then sold it off in a way I thought disappointing: http://web.archive.org/web/20040813165340/http://www.cnewmark.com/archives/000265.html http://web.archive.org/web/20040813165340/http://www.cnewmar... EBay then launched a direct competitor, presumably using knowledge gained by being a major shareholder: https://en.wikiphttps://en.wikipedia.org/wiki/Kijijiedia.org/wiki/Kijiji https://en.wikiphttps://en.wikipedia.org/wiki/Kijijiedia.org... That also struck me as a shitty thing to do. Then eBay sued Craigslist and Craigslist sued eBay, causing further drama. But now this is all over, and Craigslist can keep being Craigslist.
- ableal 11y ago
  http://pando.com/2015/06/19/pierre-omidyars-corporate-spying-scandal-buried-for-good-as-ebay-sells-craigslist-stake/ http://pando.com/2015/06/19/pierre-omidyars-corporate-spying... """ Pierre Omidyar’s corporate spying scandal buried for good as eBay sells Craigslist stake BY MARK AMES ON JUNE 19, 2015 It didn’t get much attention, but eBay just quietly unloaded its 28.4 percent stake in Craigslist, putting to rest one of the most sordid episodes in Silicon Valley, in which eBay executives — including First Look Media publisher Pierre Omidyar and HP chief Meg Whitman — were directly implicated in corporate spying, stealing secrets, and exploiting Craigslist’s anti-capitalist idealism. [...] """
  - wpietri 11y ago
    Wow, that is way worse than I thought. Disgusting.
- prostoalex 11y ago
  > As I recall it, an early CL employee got equity as a gift, and then sold it off in a way I thought disappointing To be fair, it's not like CL the company went out of their way to provide liquidity for that equity.

It's fairly safe to say that it doesn't. The price wasn't announced, and does anyone here really care if eBay was suing Craigslist and vice versa? So it's a piece of financial news of interest to anyone following eBay's stock, but not really to anyone else.

pgrote 11y ago

I think the important part is that it ends litigation between the companies, so any acquisitions of either ebay or craigslist would be easier.

cft 11y ago
Time to buy ebay stock. There will probably be an aquisition with ~25% premium
- hueving 11y ago
  If it were that certain, the price would have reflected that.
  - minot 11y ago
    Yes, which means there is no point in buying eBay anymore

pbreit 11y ago

It gets rid of a tiny legal uncertainty. Much more significantly is that Ebay is apparently walking away from a massive financial gain and potentially even larger business gain by never having figured out any way to take advantage of Craigslist assets.

wpietri 11y ago

For me it's the resolution to a very long piece of startup drama. As I recall it, an early CL employee got equity as a gift, and then sold it off in a way I thought disappointing: http://web.archive.org/web/20040813165340/http://www.cnewmark.com/archives/000265.html http://web.archive.org/web/20040813165340/http://www.cnewmar... EBay then launched a direct competitor, presumably using knowledge gained by being a major shareholder: https://en.wikiphttps://en.wikipedia.org/wiki/Kijijiedia.org/wiki/Kijiji https://en.wikiphttps://en.wikipedia.org/wiki/Kijijiedia.org... That also struck me as a shitty thing to do. Then eBay sued Craigslist and Craigslist sued eBay, causing further drama. But now this is all over, and Craigslist can keep being Craigslist.

ableal 11y ago
http://pando.com/2015/06/19/pierre-omidyars-corporate-spying-scandal-buried-for-good-as-ebay-sells-craigslist-stake/ http://pando.com/2015/06/19/pierre-omidyars-corporate-spying... """ Pierre Omidyar’s corporate spying scandal buried for good as eBay sells Craigslist stake BY MARK AMES ON JUNE 19, 2015 It didn’t get much attention, but eBay just quietly unloaded its 28.4 percent stake in Craigslist, putting to rest one of the most sordid episodes in Silicon Valley, in which eBay executives — including First Look Media publisher Pierre Omidyar and HP chief Meg Whitman — were directly implicated in corporate spying, stealing secrets, and exploiting Craigslist’s anti-capitalist idealism. [...] """
- wpietri 11y ago
  Wow, that is way worse than I thought. Disgusting.
prostoalex 11y ago
> As I recall it, an early CL employee got equity as a gift, and then sold it off in a way I thought disappointing To be fair, it's not like CL the company went out of their way to provide liquidity for that equity.