Off Topic Friday: Craig’s new modest $6M NYC digs
Craig Newmark, founder of the list that bears his name, likes to portray himself as a man of the people. Mr. Newmark likes to say that he’s not about the money. If you were to see craigslist’s home office you may think that was true. The building in San Francisco is so unassuming that if you were passing by you might miss it if you blink. Craig has often bemoaned that craigslist’s profit margins are so razor-thin that they can not hire additional staff such as moderators or customer service reps.
Now it seems that craigslist’s profits may be more lucrative than Mr. Newmark was possibly leading us to believe. Recently Craig bought a $6 Million home in New York City. According to the New York Post the modest home takes up two floors of a four-story building and has three bedrooms and 3 and a half baths in the West Village. This won’t be Mr. Newmark’s primary residence either. This will be his New York crash pad for when he’s conducting business in New York. His primary residence will remain in the Bay Area where real estate prices are some of the most expensive in the country.
Now we would never begrudge someone for their success, except when it comes at the cost of their honesty, ethics and the safety of their customers.
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Craigslist is a billion dollar company, but should they be? | Greg's Corner 10:00 am on January 23, 2019 Permalink
[…] With all that purported money you would think that craigslist could invest in some site moderation to help keep scammers and robbers off of their site in order to better protect their users. Instead, it seems like they’d rather spend it on lavish homes in ritzy New York City neighborhoods. […]