Full FeedStumbleUpon founders buy back site from eBay
StumbleUpon has been returned to founders after being owned by eBay for nearly two years. eBay purchased the site in 2007 for $75 million and has never made use of it. StumbleUpon is a user recommended website guide that utilizes web tools as well as a free toolbar. StumbleUpon is irrelevant to eBay and since it was never integrated with the auction site; it did not benefit from the acquisition.
The price that the founders paid to have the company returned to them has not been disclosed by either party. On the eBay blog, the company stated the following in regards to the deal, “As eBay Inc. expands its leadership in online payments and e-commerce, it has become apparent that there are few long-term, strategic synergies between StumbleUpon and the eBay Inc. portfolio.”
Now that the site is independent again, it will have the ability to expand and add more services. The founders hope to see continued growth of the site that was first launched in 2001.
Read: [PC World]
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on April 15, 2009 at 02:10 PM - LINK