At its peak, Craigslist was generating over $1 billion a year with around 30 employees — outperforming Google and Facebook on revenue per employee by a factor of 10 to 20. Founder Craig Newmark turned down VC billions, refused to run ads, and demoted himself to head of customer service. Then the company lost more than 70% of its revenue. This is the rise and fall of Craigslist.
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