Craig Newmark’s a Billionaire
…at least on paper, according to Silicon Valley Insider, which has done some number-crunching to come up a conservative value of $5-billion.
With that kind of dough Craigmark could move Craigslist from the Victorian house in San Francisco to some fancy campus somewhere in the Valley. Or perhaps buy a new car - a 2008 no-frills, environmentally-friendly Prius can be picked up for just $20,000, and Toyota will likely given Craig a great financing deal if he wants.
Truth be told, these kind of valuation exercises are entertaining reads if you’re looking to kill a few minutes of time that otherwise would be used for stuff like doing work. But what other purpose do they serve unless someone is really looking to buy and/or sell - something Newmark has no interest interest in even though dumping his Craigslist stake would make him worth about $2-billion.
I wonder what eBay think about the fact its 25% stake in Craiglist is worth $1.25-billion…at least on paper.
Technorati Tags: Craigslist
April 3rd, 2008 at 5:22 pm
Funny money, funny logic, loopy result. Assigning value to an entity assumes the the Craigslist model follows normal business patterns. It does not and the valuation thus has no integrity.
Craigslist’s power is in its non economic model. Putting it into an economic model destroys its power, value proposition, and any associated value.
Seems like typical greedy Silicon Valley type thinking. This is the mentality that destroyed so many high potential Valley startups.
April 4th, 2008 at 1:42 pm
The difference with Craigslist is Newmark seems immune to the hype and money.