eBay becomes minority owner of craigslist

— 5:00 AM on August 15, 2004

On Friday, eBay announced that it has acquired a 25% interest in craigslist, an online network of classifieds ads and message boards. You can read what craigslist founder Craig Newmark has to say about the announcement in his blog. Analysts expect this move will allow eBay to better target local markets in its bid to generate more local search advertising revenue.

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