August 29, 2009 § Leave a comment
Craiglist was founded in 1995 by Craig Newmark to post free classifieds online. If you have used the site, you could have felt what is a pure html web 1.0 site doing now? In the current market place, when every other site has integration with social networks, tweets, bookmarking buttons, other web 2.0 features, Craiglist does not have any of them, but still it is the market leader in U.S competing against RentHop and the likes..
Even Pankaj Agarwal, CEO of ClickIndia, considers CraigList-India as one of its main competitor. So, what does Craiglist have, that makes it so dominant in the classifieds industry.
1. Like every other classifieds site, people can post their ads freely
2. Earns revenue for any ad posted in select cities or in real estate space.(over $100 million annually)
3. Does not serve any google ads or their kind
4. Does not have any web 2.0 features
But how come points 3 and 4 help the site in growing revenue. Online popup or banner ads are the bane of websites, almost 95% of online users do not pay attention or disturbed by them. Is it the same with web 2.0 features? Necessarily not. But a business which sticks to its layout/core values, is better than one, which constantly re-innovates itself by changing them.. CraigList will even resist change in their space.
The simple thing is no one cares about n number of features offered by a site as long as what they are looking far is found. That is a easy job in craiglist. The homepage has all the countries listed with categories under them..
It is time, that other classifieds site/jobs site or news portals come up not dependent on ad-based revenue but on the content or a part of the content.
Finally, their motto: Unbrand, Demonetize, Uncompete