StumbleUpon Hits Profitability, Expects To Hit $40M Revenues This Year
StumbleUpon is a popular link sharing website where users can find interesting content randomly based on certain preferences by tapping on the “Stumble” button. Once encountering that random website, they can like or dislike the website by tapping on the associated thumb icon.
Launched around 10 years ago, StumbleUpon used to be owned by eBay. However, StumbleUpon founder Garrett Camp bought the company back and raised venture capital funding after eBay failed at an integration strategy.
Today, StumbleUpon is profitable and the company is expecting revenues to grow 33% to $40 million this year. Over 20% of sales are projected to come from apps for smartphones and tablets, said StumbleUpon CEO Mark Bartels in an interview with Bloomberg.
Every 20 times that someone taps on the Stumble button, an add will appear. StumbleUpon is working with around 100,000 advertisers. One of their biggest ad partners is Comedy Central. Comedy Central pays StumbleUpon around $75,000 for several days’ worth of ads. Some of their campaigns includes video clips promoting “Drunk History.”
StumbleUpon founder Garrett Camp stepped down from the CEO position last year to focus more on Uber, a popular mobile taxi-hailing company. When Bartels became CEO, he dropped StumbleUpon’s staff from 120 to 75 people.
[Source: Bloomberg]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry