Monday, April 13, 2009

StumbleUpon Spins Back Out

San Francisco-based StumbleUpon, which allows users to find interesting web sites on the Internet, said Monday afternoon that it has spun back out of eBay, and taken funding from the firm's original founders and new investors. According to StumbleUpon, founders Garrett Camp and Geoff Smith, as well as Ram Shriram of Sherpalo Ventures, Accel Partners, and August Capital have funded the firm and will once again be a startup. eBay acquired StumbleUpon in May of 2007, in a deal worth approximately $75M. In explaining the move, Camp said that there were "few long-term synergies" between eBay and StumbleUpon. Financial details of the move were not disclosed.