Online auction giant eBay has confirmed today that it has acquired StumbleUpon, the browsing application that recommends websites to its users, in a deal worth $75m (£38m).
The purchase of StumbleUpon had been rumoured for a few months, with the recommendation site experiencing impressive growth (of 150%) over the past year. It now has more than 2.4m registered users, with 5m recommendations daily.
The reasons for the acquisition are unclear, with eBay saying that StumbleUpon fits in with their “goal of pioneering new communities based on commerce and sustained by trust”.
Possible integrations include a link in with the eBay toolbar, recommending products on eBay, and perhaps integrating StumbleUpon’s social network into eBay.
StumbleUpon was founded in 2001 and was self-funded until last year, when it raised $1.5m from investors.