Contributed by: Editor Wednesday, September 22 2010 @ 12:30 pm
Craigslist told the House Judiciary Committee today that it had closed its sex ads section forever.
The reason for Craigslist backing down on having an adult services section is the mounting bad press from the media and pressure from a number of state attorney generals. Closing this section down is estimated to cost Craigslist $44 million per year. The company held nearly 70% of all sex ad revenue which totaled $63 million.
This leaves a giant hole in the sex ad industry in which I am sure Craigslist competitors will fight over to fill. I expect to see a lot more affair dating site and sugar daddy dating site advertising coming to a website near you.
To find out about this classifieds site, please read our review of Craigslist.