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.
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: