eBay Incorporated has announced it has acquired StumbleUpon, an early-stage company that helps people discover and share content online, for an aggregate transaction value of approximately $75 million. StumbleUpon, currently servicing 2.3 million users, gives people a new way to discover relevant and entertaining content based on personal preferences and community recommendations. The San Francisco-based company was founded in 2001 and has since become one of the most popular new ways to discover Web sites, people, videos, product information, communities and other online content based on personal interests. Driven by word-of-mouth, the StumbleUpon community has grown 150% year over year and delivers approximately five million new recommendations.
"We're excited about joining eBay, as we share the same values around community and we look forward to working with them to accelerate our growth," said Garrett Camp, chief architect and one of three StumbleUpon founders. Buhr will serve as general manager of StumbleUpon effective immediately. StumbleUpon's current founders and management team will remain in their respective positions and will work with Buhr to enhance the user experience, evolve its unique product and grow the community.
News source: Press Release