Acquring web startups is risky. Here is an example. Techcrunch reports ebay sold stumbleupn to its original founders. Will ebay dump skype next?
Back in September, we reported that eBay was attempting to sell off its stake in StumbleUpon, the website recommendation service it bought for $75 million in 2007. That didn’t happen. Instead, the company has been bought back by its investors and original founders. It emerges once again as an independent startup.
The new company is led by co-founder Garrett Camp, who now steps into the CEO role.
Yes, StumbleUpon is once again a startup. “The company is amply funded. And everyone is glad that the company is away from eBay,” a source tells us. It had been looking for at least $75 million we hear but wasn’t able to find a taker for that amount.