In the Delaware Chancery Court battle between Internet giants eBay and Craigslist, the testimony from the first four witnesses — all current or former eBay executives — has painted a picture of a clash of corporate cultures.
Instead of leading to a merger or acquisition, the testimony suggested that eBay’s acquisition of a 28 percent minority stake in Craigslist was the beginning of a rocky road, and that eBay’s strategy of aggressive growth and focusing on profits proved to be a poor fit with Craigslist, whose founder and CEO both thought of their business more as a community service.
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