Craigslist exec: CEO’s assurances eased his fears about eBay

Craigslist exec: eBay CEO changed his mind

GEORGETOWN, Del. — The CEO of Craigslist says he had decided not to do business with eBay in 2004 before being asked to meet with eBay Chief Executive Meg Whitman.

James Buckmaster said Monday he changed his mind about eBay based on assurances Whitman gave him, and eBay went on to buy a 28 percent stake in Craigslist.

Buckmaster said Whitman eased his fears that eBay wanted control of Craigslist and said eBay was happy with a minority stake. He said Whitman, now running for California governor, also said she would find a graceful way to end the relationship if things didn’t work out.

Buckmaster was testifying in an eBay lawsuit claiming that Craigslist officials improperly acted to dilute eBay’s minority stake after a falling out in 2007.