By Caroline McCarthy, 31 May 2007 08:46
NEWS
eBay has splashed out around $75m to acquire website discovery service StumbleUpon.
The auction giant's most famous acquisition is arguably internet telephony service Skype, which it purchased back in 2005.
eBay's senior director Michael Buhr said in a statement: "StumbleUpon is a great fit within our goal of pioneering new communities based on commerce and sustained by trust. StumbleUpon's downloadable toolbar provides an engaging and unique experience to its users but it is the similarities in our approaches to the concept of community that make it such a compelling addition to eBay."
At last count, StumbleUpon had about 2.3 million members and buzz about the site had spread largely by word of mouth.
The $75m price tag is more than previously expected. Earlier this month, when eBay was reported to be in "advanced talks" to acquire StumbleUpon, the numbers being tossed around were about $45m. Rumours about an eBay-StumbleUpon deal first began to circulate in early April.
In related acquisition news, CBS announced a $280m purchase of music social network Last.fm, and Fox Interactive Media confirmed its long-rumoured acquisition of image-sharing site Photobucket.
Caroline McCarthy writes for CNET News.com
Comments
There is 1 comment. Join the discussion
1. Ian Paterson
Being an avid SU user I can't say it makes me very happy.
Buying DoubleClick puts eBay in a very dominant online ad position. SU will become just another 'pay for promotion' tool.
"Click on the Stuble! button and ooh look another auction *click* ooh look, another auction!" Repeat ad nauseam....