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In August 1997, Pentair acquired the General Signal Pump Group. [15] Pentair sold off its papermaking business to Consolidated Papers Inc. in 1997. [ 12 ] While paper had been the backbone of Pentair's business it only amounted to about 10% of their revenue at the time of the sale. [ 11 ]
Newmark launched craigslist.org in 1996, where people could exchange information, mostly without charge. [12] It started as a newsletter about San Francisco events. [ 14 ] He operated it as a hobby while continuing to work as a software engineer until 1999 when he incorporated Craigslist as a private for-profit company. [ 15 ]
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