Wednesday, June 10, 2009

Craigslist to Top $100 Million?

As newspapers struggle with declining ad revenues online classified ad site Craigslist is forecast to exceed $100 million revenues this year. That’s a whopping 23% increase of last year and its bottom-line is likely to be even healthier. First launched in ’95 as a email list the company was quick to undercut newspapers and appeal to a wider audience. Newsprint still dominates but over the last decade has seen its revenues drop 50% from $20 billion in 2000 to $10 billion last year.

Employment advertising, once the a mainstay of the newpapers is expected to account for some 85% of Craigslists revenues which leaves significant potential for future growth in other areas. It is also worth noting that 40% of their revenues comes listing in just three major cities; New York, San Francisco and Los Angeles. Again this leaves significant opportunities for further growth.

Craigslist employs just 30 people!

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