Contributed by: Editor Thursday, April 29 2010 @ 06:04 pm
Classified Intelligence Report disclosed today that they have estimated for 2010 that Craigslist will generate $122 million in gross revenue with profits ranging from $88 to $99 million. This works out to about $4 million per employee. Last year (2009) revenue was estimated to be $100 million and back in 2003 revenue was estimated at $7 million for Craigslist. According to the report, half of their revenue in 2010 will come from recruitment advertising while 30 percent comes from the Adult Services listings and a further 17 percent coming from apartment ads in New York City.
In 2009 Craigslist was accused of being a large source for prostitution. In a bid to appease lawmakers Craigslist renamed their "Erotic Services" category to "Adult Services" and upped the fee per listing to $10 (it was $5). Craigslist also agreed to manual approve each listing. When the Erotic Services category was around Craigslist donated the proceeds from these listings to undisclosed charities. Since the name change, Craigslist has stopped this practice.