Craigslist founder says eBay reneged on promises
![Craigslist founder Craig Newmark arrives to testify in the civil trial between E-Bay and Craigslist in Delaware's Chancery Court Thursday Dec 9, 2009 in Georgetown, Del. (AP Photo/Bradley C Bower) Craigslist founder says eBay reneged on promises (AP)](https://scx1.b-cdn.net/csz/news/800a/2009/craigslistfo.jpg)
(AP) -- The founder of the online classifieds site Craigslist says he began having concerns with eBay shortly after the online auction site took a minority stake in his company.
Craig Newmark testified Thursday that within months of acquiring a 28 percent share in Craigslist in August 2004, eBay began backtracking on its promises.
Newmark said eBay executives including then-CEO Meg Whitman indicated that they would be happy holding a minority stake for several years, and Craigslist would be eBay's exclusive online classifieds play.
But shortly after agreeing to a deal, Newmark said eBay began pressing for a bigger stake and acquiring other online classified sites overseas.
Newmark testified in a lawsuit filed by eBay against Craigslist.
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