eBay has bought online recommendation site StumbleUpon for approximately $75 million. eBay says that this acquisition will provide eBay with in-depth exposure to a fast-growing community-based service with approximately 2.3 million users.
Michael Buhr, senior director, eBay, said: “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.”
Garrett Camp, chief architect and one of three StumbleUpon founders, said: “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.”
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.
eBay does not expect this acquisition to have a material impact on its financial guidance as issued in conjunction with its first quarter earnings release on April 18, 2007.
Related Links
