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eBay acquires social networking/search site StumbleUpon
eBay Inc. has acquired StumbleUpon for $75 million. StumbleUpon is a combination of social networking site and Internet search engine that claims to learn from a user’s searches and from others’ recommendations to find relevant content.
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eBay Inc. has acquired StumbleUpon, a web site that helps consumers find content online, for $75 million. StumbleUpon is a combination of social networking site and Internet search engine that claims to learn from a user’s searches and from other users’ recommendations to provide links to relevant content.
StumbleUpon, which was founded in 2001, has 2.3 million registered users, representing 150% growth in a year, the company reports.
“StumbleUpon is a great fit within our goal of pioneering new communities based on commerce and sustained by trust,” said Michael Buhr, senior director, eBay. “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.”
Buhr will serve as general manager of StumbleUpon. StumbleUpon’s founders and management team will remain in their positions.