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Otherwise, these two majority shareholders are in control of Craigslist. EBay may be O.K. with that, biding its time until it can truly monetize this asset. This is after all the situation eBay bought into.
This is where there is a small opening for eBay left by Chancellor Chandler. In his opinion, he asserts with strong language that the purpose of a corporation is to be run for the benefit of shareholders. Craigslist could have been incorporated as a nonprofit, but it purposely decided to incorporate as a for-profit enterprise in Delaware.