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"In the settlement, 3taps, PadMapper and Lovely will collectively pay Craigslist $3.1 million — $1 million from 3taps; $2.1 million from Lovely and nothing from
by halflings 11y ago
"In the settlement, 3taps, PadMapper and Lovely will collectively pay Craigslist $3.1 million — $1 million from 3taps; $2.1 million from Lovely and nothing from PadMapper. Craigslist has pledged to donate $1 million of that to the Electronic Frontier Foundation over 10 years."
They're not settling with $1M donation to EFF, they're still getting $2.1M from Lovely.
- genericuser 11y agoAnd assuming 10 equal payments at the end of each of the 10 years, each percentage point of average return Craigslist sees on that $1 million they earn 55,000. In addition to a getting to presumably write off some portion(all?) of the $100,000 they would be donating each year for tax purposes. So really they get more than $2.1M value out of this. Edit: Yes, I realize there is no reason I should assume 10 equal payments over 10 years, given the information available. It was just the closest thing to an 'average case' I could define for a situation like this.
- tempestn 11y agoActually if you read the settlement itself, it does explicitly say $100k per year for 10 years.