August 14, 2004 at 12:59 pm | blabbing.

If you were to believe the news stories around Ebays purchase of a 25% stake in, you would think that Ebay paid lots of money to Craigslist and that it is all part of Ebays agressive approach toward local communities.

What is missing from most of the news stories is the fact that will not get one red cent from the purchase of 25% of their company, because they did not buy that stake in the company from anyone who works at Cragislist.

According to Craigs own blog, in order to afford the company some checks and balances, Craigs gave away a part of the company to someone who was working at Craigslist. That person later left the company, and in turn shopped around for someone to buy the equity stake in the company that they owned.

What is funny and disturbing about this is that not that many news sites reported how the shares traded hands.

As long as Craig is cool. I am cool.