Friday, June 1, 2007

eBay Inc. takes over StumbleUpon, “pioneer of Web 3.0″

EBay Inc., the biggest Online shopping mart, which needs no introduction has announced that it has acquired Stumble Upon Inc., a software startup that suggests Web sites based on reader reviews and personal preferences of its members.

Stumble Upon, which is also considered a pioneer of the so-called "Web 3.0" niche, founded by three Canadian Software Engineers in Calgary in 2001 and recently relocated to San Francisco has an access to about 2.3 million people who have filled out their profiles.The term refers to technology that pairs general Internet search capability with a user's personal data and aggregated community data, theoretically delivering more relevant results than a standard search engine such as Google Inc.

Stumble Upon is free for users and generates revenue from ads. Paid members have an ad-free access. The search results here are considered much better than even Google as the results displayed here are based on User Ratings.

This cash acquisition which is said to be of $75 million, gives all these to eBay.The acquisition is not expected to change eBay's latest financial guidance. The company expects to report second-quarter profit of 31 cents to 33 cents per share on sales in the range of $1.75 billion (€1.3 billion) to $1.8 billion (€1.34 billion). For the full year, eBay expects profit of $1.30 (€.97) to $1.34 (€1) per share on sales of $7.2 billion (€5.37 billion) to $7.45 billion (€5.55 billion).

The 12-year-old e-commerce powerhouse had $3.5 billion (€2.6 billion) in cash last month and has been aggressively acquiring smaller companies to compete against rivals ranging from Google to Amazon.com. EBay, which already owns Internet phone service Skype and portals such as Shopping.com and Rent.com, completed the buyout of online ticket reseller StubHub for $310 million (€231 million) earlier this year.
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