We think of Craigslist as a form of Social Media.
We provide a simple service that is mostly free and we leave money in the community, instead of taking it away. Shared values, nothing fancy, treating people like we want to be treated.
What works on the net works for people in general. The net has very little to do with technology, what matters is how people use the technology.
Source: Craig Newmark on eBay, Craigslist 'exit strategy': http://blogs.zdnet.com/micro-markets/?p=1478
Contributed by: ~C4Chaos