eBay sues Craigslist advertising site

The online auction giant, eBay, is suing the popular Internet advertising site Craigslist to protect its four-year financial investment.

According to an eBay announcement, in January, Craigslist executives had some "pretty" behaviors that affected 10% of eBay's economic profit. However, eBay did not give any further details about this fraud.

In the company's blog, Craigslist said it was surprised and disappointed by eBay's unfounded allegations.

The company also said that eBay's lawsuit made them extremely surprised. Currently, the lawsuit has been filed in the Delaware court, where Craigslist is registered.

In a press release, eBay claimed that Craigslist's founder Craig Newmark and CEO Jim Buckmaster used non-specific standards in January, making eBay and their investment a disadvantage.

Investment protection

eBay owns part of Craigslist.

EBay attorney Mike Jacobson said: " Since our investment negotiations with Craigslist executives in 2004, we have done very openly and sincerely as an investor. As a result, we were surprised with the recent unilateral actions of Craigslist, and we are asking Delaware court to cancel these activities to protect eBay's shareholders and protect the first. Our private . '

Craigslist, the seventh most popular English-language website in the world, responded in its blog: " We always treat eBay equally as other small shareholders, and will continue to do so, though this unfortunate incident happened . '

" eBay has absolutely no reason to feel insecure, unless the acquisition of Craiglist's acquisitions, or the sale of eBay's shares in Craiglist to a less-than-good third party is Their ultimate goal , 'Craigslist protested.

The relationship is not very good

The relationship between Craigslist and eBay has long been not good. EBay online auction site asked for a 28.4% stake when buying shares from a former employee, who was given the property by Mr. Newmark. Mr. Newmark and Mr. Buckmaster have provided most of the services that Craigslist offers for free.

For a long time, there seems to be an underground ambition to extract profits from this famous website. Therefore, the site offers everything from rental housing to babysitting rental.

One year after the contract ended, eBay, which had long claimed it wanted to learn Craigslist, began cooperating with another competitor, Kijiji.com, a website currently selling ads to more than 50 states of America.