Interested in web businesses? Here’s a great example of a traditional industry that is able to thrive online, while its offline counterparts aren’t faring so well.
- Craigslist is a free classified website that only charges for certain services in major U.S. cities.
- It is a private company that does not disclose profits or revenue and so consulting companies frequently have to estimate these numbers.
- While the newspaper and print classified ad industries have been downsizing, Craigslist has been bringing in record revenue.
Facts & Figures
- Craigslist’s estimated revenue for 2009 is $100 million – a 23% increase from 2008.
- In newspapers, classified advertising declined by 29% in 2008.
- Craigslist is on track to generate $17.7 million in New York City alone in 2009.
Best Quote
“This is a down-market for just about everyone else but Craigslist.” – Jim Townsend, Editorial Director of AIM Group
Tags: classified advertising, Craigslist, internet, revenue