Forbes.com had a story recently about Craigslist CEO, Jim Buckmaster's appearance last week at the UBS Global Media & Communications Conference. It basically called Craigslist a "newspaper killer" and went on to say that the industry is affronted by the companies lack of desire to monetize the site. Craigslist is viewed by many to be a significant threat to newspapers and Buckmaster made it clear that they are not interested in making a boatload of money selling adspace.
Craigslist stats are staggering: 47th in the US for unique visitors and 7th for monthly page views - and all of this is achieved with a skeleton staff of about 24. Of course the money men look at these stats and see dollars - but they are missing the whole point of what Craigslist is about... its basically an online social service for everyone. The fact that its advertising-free is what makes it so great - monetizing the site would change it forever and possibly kill it.
I have been privileged to have met Craig Newmark, the founder of Craigslist a few times in the mid 90's. We were all just learning about the Internet and what its potential was. In those days you would receive emails inviting anyone who wanted to get together and discuss non-profit initiatives online, or e-marketing or whatever - meet up at a coffee shop. It was a group of familiar faces and Craig was often among them. I was impressed by his vision and determination to help people by providing a non-profit community. I applaud him for resisting the urge to sell-out and turn Craigslist into a myspace money machine.
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