StumbleUpon is no longer part of eBay. Many have wondered why it was even part of it to begin with, but that pondering can now be put aside. The company has now been returned to its creators for an undisclosed amount.
“We are grateful to eBay for its guidance. However, we realized there were few long-term synergies between the two businesses. It is best for us to part ways and focus on our respective strengths,” says StumbleUpon co-founder Garrett Camp. “This change makes it possible for StumbleUpon to continue to innovate and focus on becoming the Web’s largest recommendation service.” Camp is taking over the role of CEO of StumbleUpon.
It’s interesting that he talks about innovation, because that is exactly what StumbleUpon needs to do right now. The recently launched DiggBar is breathing down its back, despite the controversy with webmasters it has sparked.
A statement from eBay says:
“StumbleUpon remains a fast-growing company with potential for continued growth in the online discovery market. As eBay Inc. expands its leadership in online payments and ecommerce, it has become apparent that there are few long-term, strategic synergies between StumbleUpon and the eBay Inc. portfolio. The separation of the two companies is the right move to further StumbleUpon’s success while eBay Inc. continues to focus on strategies to connect buyers and sellers across its many platforms.”
Mashable’s Adam Ostrow speculates, “This could be the first step of eBay dissolving what has essentially become a holding company for a number of startups that don’t really fit into its main auction business.
Interestingly enough, the founders of Skype are also interested in buying back their company. They have reportedly been in contact with a number of private equity firms, looking to make a bid.
