Craigslist is Definitely a Strange, yet Beautiful Beast
Posted by Sebastien on the 2006/12/08 at 08:58
in Classifieds, Craigslist, Google, Local, eBay -
MediaPost reports on a speech Craigslist CEO Jim Buckmaster gave to the investment community at UBS’ 34th Annual Global Media & Communications Conference in New York.
According to the article, it was a “culture clash of near-epic proportions”. When an UBS analyst asked him “How does the site plan to maximize revenue? “, Buckmaster replied “That definitely is not part of the equation. It’s not part of the goal.”
“Buckmaster insisted that the company doesn’t especially want to make money. While it charges for job listings in seven cities ($75 in San Francisco, $25 in the other six) and apartment listings by brokers in New York ($10), those charges aren’t to make a profit as much as to cover expenses and keep out scammers, Buckmaster said. He added that some users requested the fees, in hopes of keeping the listings legitimate.” When asked: “How did the site arrive at $10 for real estate listings”, he responded