high-tech drama
I just find this stuff absolutely fascinating. Looking forward to seeing Newmark speak in Cleveland on May 17th.
“At investment conferences, people keep asking… how are you going to make lots of money?” Newmark told television interviewer Charlie Rose last year. “And we say, ‘Hey, not interested.’ Because once you are living well, and maybe providing for your future, what’s the point in more?”
Newmark’s remarks are cited in the lawsuit eBay filed recently against Craigslist, accusing Newmark and Buckmaster of clandestine self-dealing that diluted eBay’s minority stake in the privately held company and denied it a rightful seat on Craigslist’s board. EBay pointedly cited another comment by Newmark: “We don’t owe our investors anything.”
Annual revenues of $81 million with a staff of only 20!
Buckmaster declined to divulge Craigslist’s finances, but the research and consulting firm Classified Intelligence recently estimated its annual revenues at $81 million.
