StumbleUpon’s Ebay Spinoff Valuation: $29 Million
Earlier this month we reported on eBay’s spinoff of StumbleUpon , a company it owned for a little less than two years. Ebay bought the company for $75 million in May 2007. Unknown until now, though, was the spinoff value of StumbleUpon. According to a source close to the transaction, it was $29 million. New investors Sherpalo Ventures, Accel Partners, and August Capital joined StumbleUpon founders Garrett Camp and Geoff Smith in purchasing the company back from eBay. Outside investors put in 85% or so of the $29 million, we’ve been told, with Camp and Smith making up the rest. eBay was paid $25 million in cash for StumbleUpon and retains a 10% interest in the spun off entity. $4 million remains in the company to fund operations. StumbleUpon’s revenues are estimated at $5 million - $10 million annually. Crunch Network : CrunchBoard because it’s time for you to find a new Job2.0
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