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