eBay Confirms $75M StumbleUpon Acquisition
As TechCrunch predicted (and we mentioned in passing earlier), eBay announced their acquisition of StumbleUpon today. eBay states that the “aggregate transaction value” was around $75M.
In the official announcement, eBay states that this deal “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.”
eBay explains why this is such a good fit:
“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.”
I don’t quite see the connection. TechCrunch’s Nick Gonzalez states:
Although you can imagine â€œStumbleUpon Shoppingâ€ coming soon, eBay is leaving the company alone and taking a wait-and-see approach. The corporation will remain completely intact, except for the addition of eBayâ€™s Michael Buhr, who will serve as general manager for the product.
Do you get it?