eBay Inc. announced it has acquired StumbleUpon, an early-stage company that helps people discover and share content online, for approximately $75 million. This acquisition will provide eBay with in-depth exposure to a fast-growing, community-based service with approximately 2.3 million users.
StumbleUpon gives people a new way to discover relevant and entertaining content based on personal preferences and community recommendations. It is one of the most popular new ways to discover content on the Web. The company was founded in 2001 and is based in San Francisco, USA.
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."
Driven by word-of-mouth, the StumbleUpon community has grown 150 per cent year over year and delivers approximately five million new recommendations a day to its large, highly engaged user base. It allows people to discover websites, people, videos, product information, communities and other online content based on personal interests. By allowing its community to rate the content, StumbleUpon gets smarter as it is used and provides an increasing level of relevance over time.