Wednesday, May 14, 2008

Craigslist’s Countersuit Criticizes eBay’s Tactics - New York Times

With friends like these, ...

The countersuit exposes how the tension between the companies has been growing since shortly after eBay’s 2004 purchase of a 28.4 percent interest in Craigslist. Craigslist’s suit says eBay has continually tried to exert control over Craigslist, a privately held company in San Francisco that is widely known for its anticorporate philosophy.

It revealed that eBay acquired the shares by buying an option to acquire the shares of a minority shareholder of Craigslist, whom the company did not identify. The suit said that because eBay’s option prevented Craigslist from finding another buyer, Craigslist then repurchased the shares and issued new shares to eBay.

Craigslist’s Countersuit Criticizes eBay’s Tactics - New York Times

Post a Comment