eBay Inc. Buys StumbleUpon For $75 Million
“StumbleUpon is a great fit within our goal of pioneering new communities based on commerce and sustained by trust,” stated Michael Buhr, a senior director at eBay Inc. “StumbleUponâ€™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.” Yesterday, eBay announced that the company would acquire StumbleUpon for $75 million.
StumbleUpon has roughly 2.3 million users and is known for the social network that revolves around the toolbar. The StumbleUpon community grew 150% and makes 5 million recommendations every day.
“Weâ€™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,” stated Garrett Camp, a StumbleUpon founder. Michael Buhr will now be serving as a general manager for StumbleUpon. StumbleUpon was formed in 2001 and is based in San Francisco. The other two founders of StumbleUpon include Geoff Smith and Justin LaFrance.
For those who do not understand how StumbleUpon works, the below screen shot should explain it:
 Business Wire: eBay Acquires StumbleUpon
 StumbleUpon >> Technology