5 ms·

They bought the stake for $12 - 15m in 2004 when CraigsList sales were estimated at $7m/yr (1) Today CL's sales are estimated to be ~$335m and doubled year-ove

• smitherfield 11y ago
  Craigslist has no advertising on their site and doesn't charge for listings except for a few small sections of the site in major metropolitan areas (the funds from which they use for their business expenses). I think it speaks to the state of the bubble we're in that one of the "blue chip" internet companies has a business model of "be an ultra-speculative investment as long as possible." Of course Amazon too, but I'd say Craigslist is a more extreme example.
  • rezistik 11y ago
    One is running ecommerce the other is running local commerce.
  • hayksaakian 11y ago
    This is coming from personal experience so take it with a grain of salt: Craigslist is an insanely valuable source for lead generation in recruiting, and car sales. I run a recruiting company and craigslist is the best source of applicants by volume and return on investment (cost ($) per applicant). Having observed them closely, they are not ignorant to this fact. When specific cities or sections grow more popular they begin charging fees. Their biggest boon has been a recent change to charge car dealerships 5$ per post. Car dealers pay because only months earlier they were paying for black hat solutions to post for 1-2$ per post.
    • karterk 11y ago
      Interesting - what candidates do you recruit using Craigslist?
      • hayksaakian 11y ago
        Sales positions. car sales, insurance sales, real estate sales.
      • colechristensen 11y ago
        I was recruited to my first sysadmin/devops/etc. position through craigslist; similarly I encouraged a family member who quickly found a construction engineering position.
      • cft 11y ago
        We recruted an MIT graduate for a programming position via CL.
      • NDizzle 11y ago
        Honestly, I'm not interested in working for a place that doesn't use craigslist.
      • mikedb 11y ago
        There was analysis recently of the 'on demand' players craigslist lead gen spend. https://tryzen99.com/blog_posts/on-demand-is-in-demand https://tryzen99.com/blog_posts/on-demand-is-in-demand
      • elcct 11y ago
        chemists, sales persons, security, pilots... ;)
    • yeukhon 11y ago
      FWIW, if you ever watched hot girls wanted (a documentary film) you will learn that a lot of "porn stars" were recruited via craiglist. It was a very interesting documentary to see how many people would actually use craiglist to find opportunity.
  • blumkvist 11y ago
    >except for a few small sections of the site in major metropolitan areas Yeah... the most lucrative 20% of the volume...
  • tomasien 11y ago
    How can you say that in response to a comment saying that Craigslist made $335 MILLION and doubled revenue year over year? I mean sure perhaps dispute the underlying facts (they seem rock solid to me) but if making $335,000,000 in revenue is somehow the sign of a bubble then... i don't know what to say.