Craig Newmark is the Craig of Craigslist whose gauge net worth as of 2010 was around $ 400 million . This is in direct demarcation to his financial wealthiness during childhood , where his female parent struggled to defend Craig and his brother , Jeff , after the death of their don .
Craig Alexander Newmark was have a bun in the oven on December 6 , 1952 , in Morristown , New Jersey , to Joyce and Lee Newmark . Lee work as an indemnity salesman but after his expiry , Joyce had to move her two Word into an apartment . Craig was only thirteen class old when his father snuff it .
After graduate from Morristown High School in 1971 , Craig had earned enough learning to fund his post - junior-grade education at Case Western Reserve University . There , he received a Bachelor of Science level in 1975 and a Masters of Science degree in 1977 . With his unexampled level , Craig land himself a job as a programmer with IBM for 17 yr – first in Boca Raton , Florida and then in Detroit .
In 1993 he go to San Francisco to solve for Charles Schwab . It was here that he was introduced to the net , result in his development of Craigslist .
Craigslist begin as a dewy-eyed east - mail distribution lean amongst admirer in 1995 . The bulk of the earliest spot were post by Craig himself and were notices of social events attractive to software and net developers living and/or process in the San Francisco Bay field .
Fast forward to 1998 , Newmark was still enjoying a career as a software technologist , more specifically a hard-core java programmer . Craigslist was still a hobby to him , but a hobbyhorse with keen perks . Through the internet site , he was getting himself invited to the honorable parties for geeks and nerds out there .
In 1999 , Craigslist was produce so fast that it was contain as a private for - gain company and Newmark stopped working as a computer software locomotive engineer to work full - metre running Craigslist .
By April of 2000 , there were nine Craigslist employees work out of Newmark ’s San Francisco apartment , including Jim Buckmaster who join the company in January of 2000 as lead programmer and CTO – chief engineering science policeman . He contributed to the internet site ’s multi - city computer architecture , its hunt engine , discussion assembly , flag arrangement , ego - post operation , home page design , personals category and intimately - of - Craigslist feature . In November of 2000 he was promoted to CEO which is a position he still holds today .
Over the next few days Craigslist expanded rapidly to several cities throughout the existence and on August 1 , 2004 , they begin doing something they had never done before – charge a fee to send job opening in select cities . On the Los Angeles and New York pages it cost $ 25 per job posting . That very same day , a young Craigslist section forebode “ Gigs ” was added . In the “ Gigs ” section , abject - toll and unpaid jobs and internships can be posted for free .
If Craigslist is free for most everybody , then how in the earth does it make any money ? Its main source of revenue is still primarily from the pay job ads in choice city . It charges $ 75 per ad in San Francisco and $ 25 per ad in New York , Los Angeles and now San Diego , Boston , Seattle , Washington , D.C. , Chicago , Philadelphia , Orange County in California , and Portland , Oregon . It also charges $ 10 per give broker flat listing advertizement in New York City . This might not sound like much , but despite being one of the prominent websites in the world , the ship’s company today only has a little over 30 employees and the estimated taxation that they add in each year from those small percentage of paid posts is a gross of about $ 130 million as of 2012 , with about $ 100 million of that being profit … so , they ’re doing alright .
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Bonus Facts :
On August 13 , 2004 , Newmark announced that eBay had buy a 25 % interest in Craigslist . The company is now believed to be owned by Newmark , Buckmaster and three eBay board penis .
Craig Newmark conjoin Eileen Whipley in December of 2012 . He currently lodge in in San Francisco ’s Cole Valley and is a self - proclaimed non - practicing , worldly Jew .
This Charles William Post has been republished with license fromTodayIFoundOut.com .
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