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.
“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. “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.”
“We’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,” added StumbleUpon founder Garrett Camp. The other two founders of StumbleUpon include Geoff Smith and Justin LaFrance.
StumbleUpon was formed in 2001 and is based in San Francisco. And Buhr will now be serving as a general manager for StumbleUpon.
