I found a startup with 50 employees, 20 billion page views a month and $1 billion in sales in 2018.
They never raised money but I guarantee you bought a coffee table or found your next job on the site.
Here's the story and 5 lessons on how they did itπ
They never raised money but I guarantee you bought a coffee table or found your next job on the site.
Here's the story and 5 lessons on how they did itπ
Craig Newmark describes himself as "nerd patient zero".
And in 1995 he is 42 years old and moves to San Francisco to work at Charles Schwab.
But like anyone in a new city, he's lonely.
So what does he do?
And in 1995 he is 42 years old and moves to San Francisco to work at Charles Schwab.
But like anyone in a new city, he's lonely.
So what does he do?
Creates an email list with 10 people.
The goal?
Feature fun local events in San Francisco.
The first event takes place at Joe's Digital Diner.
People show up, eat spaghetti and meatballs and talk about the using new multimedia tech.
The goal?
Feature fun local events in San Francisco.
The first event takes place at Joe's Digital Diner.
People show up, eat spaghetti and meatballs and talk about the using new multimedia tech.
Craig posts more events.
And something weird happens.
People start begging to be added to the email list.
So the list grows to 250 people.
And something weird happens.
People start begging to be added to the email list.
So the list grows to 250 people.
By 1996 he buys and builds craigslist(dot)org.
By 1997 Craigslist hit 1 million page views a month.
People start asking him,
"Hey, can we put this job on there?" or
"Can you post this thing I want to sell?"
By 1997 Craigslist hit 1 million page views a month.
People start asking him,
"Hey, can we put this job on there?" or
"Can you post this thing I want to sell?"
Craigslist turns from an event site to selling Classified Ads.
If you're a Zoomer like me, classified ads mean people or businesses pay Craigslist to:
β’ List cars for sale
β’ Advertise job openings
β’ List apartments for sale
and more!
If you're a Zoomer like me, classified ads mean people or businesses pay Craigslist to:
β’ List cars for sale
β’ Advertise job openings
β’ List apartments for sale
and more!
So Craig quits his job in 1998 and hires a team.
In 2007, they hit $50 million in sales.
Today, Craigslist is in over 700 cities and 70 countries.
They have
β’ 25 million+ classified ads
β’ 1.5 million+ job postings
Here's how the did itπ
In 2007, they hit $50 million in sales.
Today, Craigslist is in over 700 cities and 70 countries.
They have
β’ 25 million+ classified ads
β’ 1.5 million+ job postings
Here's how the did itπ
1) Forget the Fancy
Craigslist may have the ugliest website on the internet.
Why almost no changes in 25 yrs?
"People told us they don't want fancy. They want simple, straightforward and fast."
Whenever you think you need a fancy site, remember this hit a billion in sales:
Craigslist may have the ugliest website on the internet.
Why almost no changes in 25 yrs?
"People told us they don't want fancy. They want simple, straightforward and fast."
Whenever you think you need a fancy site, remember this hit a billion in sales:
2) Chief Customer Service Rep
Craig obsessed over customer service because the community became the heartbeat of the business.
What do our people want?
How can we make it super simple to get?
Bonus: his linkedin says it all
Craig obsessed over customer service because the community became the heartbeat of the business.
What do our people want?
How can we make it super simple to get?
Bonus: his linkedin says it all
3) Free is Fruitful
As craigslist grew, businesses bombarded Craig asking to advertise.
But he realized that banner ads and pop ups kill user experience.
So they made it free for users with no ads.
Only pay to list certain items.
You pass the cost to those making money.
As craigslist grew, businesses bombarded Craig asking to advertise.
But he realized that banner ads and pop ups kill user experience.
So they made it free for users with no ads.
Only pay to list certain items.
You pass the cost to those making money.
4) Cheapness is a Virtue
In the early days, the Craigslist office contract stated the landlord paid for toilet paper.
So Craig refused to buy toilet paper.
He didn't care if it was crazy.
In a new world of frugality and fiscal responsibility, this mentality wins.
In the early days, the Craigslist office contract stated the landlord paid for toilet paper.
So Craig refused to buy toilet paper.
He didn't care if it was crazy.
In a new world of frugality and fiscal responsibility, this mentality wins.
5) Fire Yourself
Craig knows he "kinda sucks" at managing people.
So in 2000, he hires Jim Buckmaster after seeing him post his resume on Craigslist.
Too often, we let our egos win.
But if Craig never fired himself, they never becomes a big business.
Craig knows he "kinda sucks" at managing people.
So in 2000, he hires Jim Buckmaster after seeing him post his resume on Craigslist.
Too often, we let our egos win.
But if Craig never fired himself, they never becomes a big business.
Now, Craigslist has had a tough last few years.
Facebook Marketplace, Airbnb and others are taking market share.
But the crazy part is that isn't the focus:
"Financial metrics aren't the focus; they're a pleasant side effect if we manage to do a good job by our users."
Facebook Marketplace, Airbnb and others are taking market share.
But the crazy part is that isn't the focus:
"Financial metrics aren't the focus; they're a pleasant side effect if we manage to do a good job by our users."
"We look at the number of thank-you notes from users who have found their entire lives on our site - from spouse to house, job, furnishings, cat, dog, friends and a social life."
-- Jim Buckmaster, CEO of Craigslist
-- Jim Buckmaster, CEO of Craigslist
5 startup lessons from Craigslist:
1. Forget the fancy
2. Be the chief customer service rep
3. Free is fruitful
4. Cheapness is a virtue
5. Fire yourself
1. Forget the fancy
2. Be the chief customer service rep
3. Free is fruitful
4. Cheapness is a virtue
5. Fire yourself
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