eBay Inc purchased StumbleUpon for $75 million in an all cash payment. StumbleUpon gives users a "way to discover great websites, videos, photos, blogs and more. Channel surf the internet and get personalized recommendations".
Michael Buhr, Senior Director, eBay commented on the acquisition, "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."
Garrett Camp, chief architect and StumbleUpon co-founder, "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."
With immediate effect, Michael Buhr becomes general manager of StumbleUpon while StumbleUpon's creators and managers will continue with their current positions, working alongside Buhr "to enhance the user experience, evolve its unique product and grow the community." So far, it has has 2,446,602 users.
For more details on the acquisition, read eBay acquires StumbleUpon.