Meet Craig 'Craigslist' Newmark, the self-professed 'nerd' who built a $1 billion online listing empire and donated $20 million to a media company that's now facing a massive editorial exodus (2024)

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Founder of online ads site Craigslist, Craig Newmark has, according to Forbes, a net worth of $1.6 billion. He stepped back from the company in 2000, and now focuses on philanthropy. Newmark was born in Morristown, New Jersey in 1952 ... ... and later attended school at Case Western Reserve University in Cleveland, Ohio. Newmark originally planned on working as a quantum physicist but studied computer systems instead. After graduation, Newmark joined IBM, where he would work for the next 18 years. The job took Newmark to Boca Raton and Detroit to work with General Motors before he finally landed in San Francisco in 1993. At his new job with Charles Schwab, Newmark was introduced to the internet during the early stages of many Silicon Valley empires. New to the city, Newmark relied on recommendations from colleagues and friends. In 1995, he decided to start an email newsletter. Originally called "San Francisco Events," the newsletter was commonly referred to as "Craig's List." People quickly advised Newmark to change the name to Craigslist to help establish a brand. Craigslist grew quickly, offering spaces for classified ads online. Today, the company employs around 40 workers. According to Forbes, the site receives over 50 billion page views per month and earns $690 million in revenue. Over the years, Newmark has been criticized for his site's impact on the newspaper business, as classified ads served as a huge revenue source for print news prior to Craigslist's online disruption. In a 2018 interview with Business Insider, Newmark said he decided, against the recommendations of many advisors, "to monetize as little as possible" and did not take the venture capitalist route so many Silicon Valley companies choose. As Newmark told Business Insider's Jim Edwards, "VC's and bankers at that point told me I should do the usual Silicon Valley thing and make some billions. But no one really needs billions of dollars, except to give away." In 2018, Newmark donated $20 million to the City University of New York's Graduate School of Journalism. Following his donation, the dean renamed the school the Craig Newmark Graduate School of Journalism. Additionally, Newmark has donated to other journalism institutions — including $1 million each to the Poynter Institute, ProPublica, and Mother Jones — along with Girls Who Code and Iraq and Afghanistan Veterans of America. Newmark also holds advisory board positions for numerous other nonprofit organizations and has donated to Democratic Party presidential candidates. Newmark married Eileen Whipley in December of 2012. The couple currently splits their time between San Francisco and their Greenwich Village duplex in New York City. Newmark refers to himself as an "old-school" nerd. He also told Business Insider's Jim Edwards he doesn't see himself as famous, despite founding a multimillion-dollar, eponymous company. Newmark also backs The Markup, a forthcoming tech publication. On Tuesday, the site made headlines after five out of seven editorial staffers quit following the departure of their editor-in-chief, Julia Angwin. The non-profit had plans to launch in July of this year. FAQs References

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Marissa Perino

2019-04-24T19:56:00Z

Meet Craig 'Craigslist' Newmark, the self-professed 'nerd' who built a $1 billion online listing empire and donated $20 million to a media company that's now facing a massive editorial exodus (1)

Craig Newmark is the founder of classified ads website Craigslist. Newmark started the site as an email newsletter called "San Francisco Events."
Newmark only led the company for five years — he stepped down as CEO in 2000 and has dedicated his time to philanthropy ever since.
Most recently, tech publication The Markup — which Newmark helped raise $22 million for — made headlines for its staff exodus on Tuesday.
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Founder of online ads site Craigslist, Craig Newmark has, according to Forbes, a net worth of $1.6 billion. He stepped back from the company in 2000, and now focuses on philanthropy.

Source: Forbes, Craig Newmark Philanthropies

Newmark was born in Morristown, New Jersey in 1952 ...

Source: Business Insider, Craig Newmark Philanthropies, Gizmodo

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... and later attended school at Case Western Reserve University in Cleveland, Ohio. Newmark originally planned on working as a quantum physicist but studied computer systems instead.

Source: Business Insider

After graduation, Newmark joined IBM, where he would work for the next 18 years.

Source: Bloomberg

The job took Newmark to Boca Raton and Detroit to work with General Motors before he finally landed in San Francisco in 1993. At his new job with Charles Schwab, Newmark was introduced to the internet during the early stages of many Silicon Valley empires.

Source: Gizmodo, Business Insider

New to the city, Newmark relied on recommendations from colleagues and friends. In 1995, he decided to start an email newsletter. Originally called "San Francisco Events," the newsletter was commonly referred to as "Craig's List." People quickly advised Newmark to change the name to Craigslist to help establish a brand.

Source: Business Insider

Advertisem*nt

Craigslist grew quickly, offering spaces for classified ads online. Today, the company employs around 40 workers. According to Forbes, the site receives over 50 billion page views per month and earns $690 million in revenue.

Source: Business Insider, Forbes

Over the years, Newmark has been criticized for his site's impact on the newspaper business, as classified ads served as a huge revenue source for print news prior to Craigslist's online disruption.

Source: Politico, New York Times

Advertisem*nt

In a 2018 interview with Business Insider, Newmark said he decided, against the recommendations of many advisors, "to monetize as little as possible" and did not take the venture capitalist route so many Silicon Valley companies choose.

Source: Business Insider

As Newmark told Business Insider's Jim Edwards, "VC's and bankers at that point told me I should do the usual Silicon Valley thing and make some billions. But no one really needs billions of dollars, except to give away."

Source: Business Insider

Advertisem*nt

In 2018, Newmark donated $20 million to the City University of New York's Graduate School of Journalism. Following his donation, the dean renamed the school the Craig Newmark Graduate School of Journalism.

Source: CUNY

Additionally, Newmark has donated to other journalism institutions — including $1 million each to the Poynter Institute, ProPublica, and Mother Jones — along with Girls Who Code and Iraq and Afghanistan Veterans of America. Newmark also holds advisory board positions for numerous other nonprofit organizations and has donated to Democratic Party presidential candidates.

Source: Poynter, Poynter, Craig Newmark Philanthropies, Variety

Advertisem*nt

Newmark married Eileen Whipley in December of 2012. The couple currently splits their time between San Francisco and their Greenwich Village duplex in New York City.

Source: Business Insider, Gizmodo

Newmark refers to himself as an "old-school" nerd. He also told Business Insider's Jim Edwards he doesn't see himself as famous, despite founding a multimillion-dollar, eponymous company.

Source: Business Insider

Advertisem*nt

Newmark also backs The Markup, a forthcoming tech publication. On Tuesday, the site made headlines after five out of seven editorial staffers quit following the departure of their editor-in-chief, Julia Angwin. The non-profit had plans to launch in July of this year.

Source: Business Insider

FAQs

What happened to Craig from Craigslist? ›

Since then, Newmark has not been involved in the "day-to-day operations" of Craigslist. As of 2018, he continued to respond to Craigslist customer service inquiries, primarily dealing with spammers and scammers. In 2005, Time magazine listed Craig Newmark as one of the 100 people shaping the world.

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Where did Craig Newmark get his money? ›

The son of an unsuccessful salesman, Craig Newmark made a fortune creating the online classified-ad site craigslist.org. He's already given away more than $300 million and, upon turning 70 in December, announced he wanted to give more away faster.

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Does the owner of Craigslist make money? ›

Craig Newmark is a multimillionaire known by two primary things: one, being founder of online marketplace Craigslist, and two, his philanthropic personality. The American entrepreneur has been a successful businessman for a long time.

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What is Craig Newmark doing now? ›

Since retiring from Craigslist in 2018, he has become a crusader for cybersecurity protections, trustworthy journalism and veteran support. Now, at 70, he's preparing for his next stage in life by giving away his sizable fortune. His donations to date haven't been insignificant by any means.

How much money does Craigslist make? ›

Revenue of Craigslist 2018-2022

Craigslist lost almost half its revenue from 2018 to 2020, going from about one billion to 566 million U.S. dollars. However, the classifieds website's revenue grew after the decline in 2020, reaching 694 million U.S. dollars in 2022.

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Is Craigslist owned by eBay? ›

On June 19, 2015, eBay Inc. announced that it would divest its stake back to Craigslist for an undisclosed amount, and settle its litigation with the company. The move came shortly before eBay's planned spin-off of PayPal, and an effort to divest other units to focus on its core business.

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How does craigslist make money if it's free? ›

They generate revenue by charging users a fee to post some types of ads in select cities and by running paid banner ads. Craigslist does not publicly disclose their financial information , but it is estimated that they make millions of dollars in revenue each year .

Why is Craigslist so famous? ›

Additionally, craigslist has always been free to use for most users, which has helped to build a large and loyal user base. Another key factor in craigslist's success is its strong focus on local communities. The site is organized by city and region, making it easy for people to connect with others in their area.

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What is Craig Newmark known for? ›

Craig Newmark is the founder of Craigslist, the web-based platform that has fundamentally changed classified advertising. Since its founding in 1995, craigslist has become one of the world's 10 most-visited English language web platforms.

Get More Info Here ›

Who is Newmark owned by? ›

Over the past decade, Newmark and its parent company BGC Partners, Inc. have expanded real estate services and geographic reach through the acquisition of companies in the United States and internationally.

Get More Info Here ›

How do I contact Craig Newmark? ›

Contact Information

Telephone: 415-566-6394.
URL: craignewmarkphilanthropies.org.

Feb 17, 2024

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Who is Craig in Craigslist? ›

Craig Newmark is the founder of Craigslist, the web-based platform that has fundamentally changed classified advertising. Since its founding in 1995, craigslist has become one of the world's 10 most-visited English language web platforms.

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How does CL make money? ›

Income Streams

It charges a $25 fee to post a job listing in six major U.S. cities. It charges $75 for a job listing in the San Francisco area. Last, the company charges a $10 fee to list an apartment rental in New York. The revenues generated from these fees cover only the operating expenses of Craigslist.

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