StumbleUpon acquired by eBay
Online bidding service provider eBay has confirmed that they are acquiring StumbleUpon Inc. which runs the popular StumbleUpon.com web service.
The deal is worth around $75 million and this acquisition would give eBay access to about 2.3 million people who are members of the StumbleUpon service.
The company was formed in 2001 by three Canadian software engineers in Calgary and the service enable the web users to check out sites related to their area of interests as picked up by other members.
The service is free and generates revenues through online advertising. They have an option of paid membership where the user gets to see ad-free pages on the service.
Michael Buhr, senior director at San Jose-based eBay has now been appointed as the general manager of StumbleUpon. He said about the acquisition deal: “StumbleUpon is a great fit within our goal of pioneering new communities based on commerce and sustained by trust.”
Checkout: StumbleUpon
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