Craigslist posts $1.6 million for new media

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BERKELEY, Calif. -- Craigslist, the popular community networking Web site, has donated $1.6 million to the University of California, Berkeley, to help create the first endowed professorship at its 5-year-old Berkeley Center for New Media.

Additional money from a $113 million gift by the William and Flora Hewlett Foundation will bring the initial endowment amount to $3.1 million.

Craigslist's CEO Jim Buckmaster will be a founding member of the center's executive advisory board, university officials said.

The mission of the center is to advance new media in the public interest, and to explore the effect of new media on culture, said engineering Professor Ken Goldberg, who was appointed director of the center in July.
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