SAN JOSE (BCN)– E-commerce company eBay has sold its 28.4 percent stake in Craigslist back to the online classified advertising site, ending years of legal wrangling between the two companies.
The move comes as eBay prepares to split with its online payments system PayPal. Financial terms were not disclosed.READ MORE: UPDATE: 2 Pedestrians Killed, 2 Hurt In Horrific San Jose Collision
eBay bought a stake in Craigslist in 2004. But the two companies have tussled in the legal arena.
Craigslist accused eBay of using confidential information to start its own classifieds site in the U.S. in 2007.READ MORE: Belmont Neighborhood Search For Aggressive Mountain Lion
eBay said with the repurchase, all litigation between eBay and Craigslist will be dismissed. It declined to comment further.
Craigslist posted an excerpt of eBay’s statement on its blog along with an excerpt of Shakespeare’s “All’s Well That Ends Well,” including the line “Love all, trust a few.”MORE NEWS: Three Of Tonga’s Smaller Islands Badly Damaged By Tsunami; Concerns Mount Within Bay Area Tongan Community
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