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EBay Finally Sells Craiglist

EBay Finally Sells CraiglistUnder a confidential settlement agreement all
litigation between the companies will also be dismissed, eBay said. Terms of
the sale weren’t disclosed but eBay paid US$34 million for the original
investment in Craigslist.

The companies have been at loggerheads over allegations that after eBay took
the stake in Craigslist, it misappropriated confidential information while
secretly planning its own classifieds site.

The deal is the latest step by eBay to focus on its online marketplace after
spinning off its PayPal transactions business in Q3.