johnnymk

http://www.news.com/8301-10784_3-992...47-1001_3-0-10

Craigslist has responded to a lawsuit filed by eBay, noting that it "came to us out of the blue," according to a posting on its craigslist blog Tuesday.

The popular online classified-ad site issued its response after eBay on Tuesday filed a lawsuit, alleging that its 28.4 percent stake in Craigslist was diluted by more than 10 percent in January. eBay, which acquired its minority stake in 2004, submitted its lawsuit under seal and, as a result, few details are readily available.

Craigslist said it was surprised by the action, stating that eBay had not attempted to discuss the matter with the company prior to filing its complaint.

"Coming from a shareholder that views craigslist as a prime competitor, filing suit without so much as mentioning these assertions beforehand seems unethical, and hints at ulterior motives," Craigslist notes in its blog.

And what ulterior motives could Craigslist be referring to? The company alleges: "eBay has absolutely no reason to feel threatened here - unless of course they're contemplating a hostile takeover of craigslist, or the sale of eBay's stake in craigslist to an unfriendly party. In which case, they're out of luck."

Craigslist, however, is not a publicly traded company, so a "hostile takeover" is a less likely route. eBay selling its stake to another party may be something worth keeping an eye on, given that's how eBay came into its Craigslist stake in 2004.

DarkFury

Hmmm... I wonder how Craigslist diluted eBay's shares?

Did they release some more stock and not include eBay in on it?

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Maarchk

Yeah that didn't really help us learn too much. Hmm, I can see ebay worrying about craiglist as competition. That's where i go a lot now before EBay. but ebay is still king if it's not a local item.

I wonder how ebay is doing lately? I don't think they have much competition. Yahoo auctions was a joke and i have yet to see anyone do it like they do. I know they have issues but i still think they are the big dog.

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mojo

maybe they want craigslist to accept a cashier's check as payment, and then consider it sold. they will be conacted soon with shiping intructions.

thank you in advance as buyer and look forward to our transaction as be it succesful.

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