News

eBay and StumbleUpon split

Warwick Ashford

Online auction site eBay and website discovery tool StumbleUpon have split after two years.

eBay bought StumbleUpon for $75m in 2007, but the two companies have announced they are parting ways to focus on their respective strengths.

The announcement comes just weeks after eBay asked its shareholders whether it can change its employee stock options to compensate for company shares losing about two thirds of their value.

StumbleUpon is now backed by company founders Garrett Camp and Geoff Smith and several other investors.

The announcement gave no financial details of the split, but said Camp would take on the role of chief executive at StumbleUpon.

"We are grateful to eBay for its guidance. However, we realised there were few long-term synergies between the two businesses," said Camp.

StumbleUpon will remain focused on helping people discover interesting content by increasing the accessibility of the StumbleUpon service and the quality of recommendations, he said.


Email Alerts

Register now to receive ComputerWeekly.com IT-related news, guides and more, delivered to your inbox.
By submitting you agree to receive email from TechTarget and its partners. If you reside outside of the United States, you consent to having your personal data transferred to and processed in the United States. Privacy
 

COMMENTS powered by Disqus  //  Commenting policy