Having stopped punching itself in head about Google (NASDAQ:GOOG), online auctioneer eBay (NASDAQ:EBAY) has apparently found a new reason for self-flagellation. This time it's eBay's lost share to Craigslist, something that has eBay bringing its Kijiji free classifieds site to the U.S.
Trouble is, of course, eBay already owns 25% of Craigslist, the company causing it all the headaches. So why would it launch something directly competitive in the U.S. market? At least three reasons, so pick your favorite:
1. eBay remains in a monstrously deep self-flagellating funk.
2. eBay tried to buy more of Craigslist, was rebuffed, and is now playing rough.
3. eBay doesn't think it will ever see any liquidity from the nutters at Craigslist -- they'll likely turn the whole company over to some Che Guevara preservation society or something -- so it's calling it quits on the thing.