Word: ebay
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...successful is Craigslist that the site has inspired several copycats and drawn the attention of the biggest online giants. Earlier this year, eBay, which has its roots as an online community, bought a 25% stake in Craigslist from a former Craigslist employee for an undisclosed amount (after getting the blessing of the company's founders). eBay says the purpose of its investment is to learn more about online classifieds, a business that neither eBay nor Yahoo has successfully cracked. For Newmark, who insists that eBay will not change Craigslist, the deal gives his company access to eBay's experience...
...Fashion Institute of Technology, Ripley decided to make a go of overstocked couture at a discount. She got her father to co-sign a 30-day, $30,000 note, which she used to buy 300 chic but so-last-season pieces. Then she resold them on eBay at a 225% profit...
...forged it by co-founding, with Ed Wray, London-based Betfair, the peer-to-peer cybercasino that has done for gambling what eBay did for garage sales. On Betfair there's no house; the site's 250,000 registered customers simply post their bets and wait for someone to take them on. Betfair charges a commission on each winning bet; the more you bet, the lower the commission. When the site was launched in 2000, with $1.8 million raised from Black's and Wray's network of contacts, it was taking less than $90,000 in weekly bets...
...athletes who will leave the Summer Games with a gold medal. Compete in one of the less popular sports--one-man flat-water canoe, anyone?--and the ultimate prize for athletic achievement could be worth little more than what you can hock it for on eBay. "It's not the gold medal where the value lies--it's the neck it hangs around," says Dean Bonham, a sports-marketing consultant in Denver who specializes in valuing sponsorship deals. To receive one of the rare seven-figure offers in Olympicsville, an athlete must have what Bonham calls a "magical combination...
...Brin and Page appear to be a good bet. They?d somehow managed to grow an internet juggernaut in plain sight while the rest of the dotcommers were selling off their Aeron chairs on eBay. Most of us were astonished to learn just how big and profitable the company had become when it unveiled its numbers last fall. Who knew that those proliferating ?sponsored links? could be a billion-dollar business, with fat margins to boot...