StumbleUpon for sale?

Posted on Saturday, Nov 18 2006 @ 19:15 CET by Thomas De Maesschalck
According to TechCrunch social networking site StumbleUpon offered itself for sale to at least one large Internet firm for $50 million:
The deal doesn’t appear to have been widely shopped - one potential acquiror said that they met with the company recently, but only to explore possible business development deals, and that an acquisition was not discussed. I spoke briefly with StumbleUpon CEO Garret Camp this afternoon but he refused to comment, saying “we do not comment on rumors.” Fair enough.

The real story may be a disconnect between the company’s executives and investors. StumbleUpon has only raised a single seed round of financing - $1.5 million - and angel investors often informally shop a company, with or without the company’s permission, in the hope of an early cash out.

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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