Craigslist CEO says eBay was threat, defends antitakeover measures

Craigslist exec defends antitakeover measures

GEORGETOWN, Del. — The CEO of Craigslist says takeover defenses the company adopted last year were warranted given the threat posed to the online classifieds site by eBay.

Craigslist CEO James Buckmaster said Tuesday that after eBay launched a competing classified site in the U.S. in 2007 and diverted Internet users looking for Craigslist to its own sites, it became clear that eBay was a threat.

Buckmaster said that in response to eBay’s attacks on Craigslist, the company adopted a series of antitakeover measures in January 2008 after careful consideration.

Buckmaster is testifying in a lawsuit filed by eBay challenging the actions taken by Craigslist officials to dilute eBay’s minority stake after their falling out.