Seems eBay is shitting the bed at the moment as they have launched a lawsuit at Craigslist — of which they are minority stakeholders — because they feel that Craigslist is trying to cut their share down from the 28+% they currently own by at least 10%.
Of course, eBay filed the puppy under seal — so no one knows the real deal of what the hell is really going on — and apparently it will be that way for awhile.
That has not stopped Newmark from firing back — in an entry posted on Craigslist’s blog last night called ‘Tainted Love‘, the firm asserted that eBay’s accusations were unfounded and insisted the lawsuit came as a complete surprise.
EBay’s stake in Craigslist was sold in 2004 by a former unnamed shareholder. The financial terms of the deal were never disclosed.