Craig and company are doing pretty well these days, according to Classified Intelligence, which projects its revenues to reach more than $100 million this year. According to a discussion in the NY Times:
That is a 23 percent jump over the revenue the firm estimated for 2008 and a huge increase since 2004, when the site was projected to bring in just $9 million. “This is a down-market for just about everyone else but Craigslist,” said Jim Townsend, editorial director of AIM Group. The firm counted the number of paid ads on the site for a month and extrapolated an annual figure. It said its projections were conservative.
In February this year, Hitwise showed Craigslist’s traffic in the US outstripping all other classifieds sites combined:
Also in February, comScore revealed the top gaining online categories of 2008. Classifieds was number 10:
Insert discussion of the loss of classifieds revenues at traditional newspapers, which has been going on for almost a decade. Craigslist remains an amazing story, far far behind the state of the art in UX but tried and true, with a brand and critical mass (usage and inventory). As far as I know, Craigslist still has fewer than 30 employees.
Craigslist also exemplifies the notion/cliche that one often hears: when ads are truly relevant they’re cease to be ads and are simply received as “content.” We’ll that’s actually true here — in Jobs and Real Estate, where listing fees drive all the revenue at Craigslist.