"Craigslist is a stunning business success story, especially since it's run more like a community service than a for-profit business," AIM founder Peter Zollman said Wednesday in a posting at the firm's website.

"And despite tremendous negative publicity and legal battles, its revenue keeps increasing at a remarkable pace."

San Francisco-based Craigslist does not disclose revenue figures, but AIM estimates that it took in 81 million dollars last year and that the figure will jump more than 23 percent in 2009.

"The company continues to grow significantly, while many classified advertising publishers are reporting year-over-year drops of 50 percent or more in certain categories," Zollman wrote.

Craigslist websites localized to communities around the world act, in part, as online notice boards where people can post messages on a range of topics including apartment rentals, items for sales and jobs.

Craigslist only charges fees for "a tiny percentage" of its ads, according to media consultancy group AIM, which has been estimating the Internet company's annual revenue since 2003.

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