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Craigslist: A Million-Dollar Side Hustle Story
Craigslist, the popular online classifieds platform, has reached an impressive milestone—its 30th anniversary. Craig Newmark, the mind behind the iconic site, has taken the opportunity to clarify some misconceptions about Craigslist’s origin and his personal journey.
The Start of Something Big
Back in 1995, at the dawn of the internet boom, Newmark moved to San Francisco and began sharing an email bulletin to inform a small group about local events and happenings. This initial side hustle was driven by his passion for connecting people and sharing information.
A Growing Mailing List
As word spread, this simple mailing list began to grow rapidly—eventually reaching over 240 subscribers. Newmark’s dedication to keeping everyone informed led him to migrate his list to a listserver to manage the demand. This dedication is a testament to the power of word-of-mouth marketing and the organic growth of a concept that would become a major player in the online marketplace.
Financial Insights: A Business Worth Billions
Despite being a privately held company, Newmark revealed that Craigslist garners approximately 20 billion page views each month and operates with an annual revenue of around $694 million. However, he dispels the notion of being a billionaire, attributing this misconception to his philanthropic choices which included donating all his equity from Craigslist.
The Philanthropy Behind the Success
Now at 72, Newmark has shifted his focus from building Craigslist to philanthropy, emphasizing the importance of giving back. His journey illustrates that success isn’t just about accumulating wealth; it’s also about how one can impact the community positively.
For aspiring entrepreneurs and side hustlers, Newmark’s story is a powerful reminder that even small beginnings can lead to phenomenal growth. Building connections and staying true to one's values in business could pave the way for lasting success.
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