StumbleUpon Wants to Sell for $50 Million
Two sources have confirmed that the rapidly growing StumbleUpon recently approached at least one large Internet company to be acquired. The asking price was $50 million.
The deal doesn’t appear to have been widely shopped - one potential acquiror said that they met with the company recently, but only to explore possible business development deals, and that an acquisition was not discussed. I spoke briefly with StumbleUpon CEO Garret Camp this afternoon but he refused to comment, saying “we do not comment on rumors.” Fair enough.
The real story may be a disconnect between the company’s executives and investors.
StumbleUpon has only raised a single seed round of financing - $1.5 million - and angel investors often informally shop a company, with or without the company’s permission, in the hope of an early cash out.
Full story plus comments...
The deal doesn’t appear to have been widely shopped - one potential acquiror said that they met with the company recently, but only to explore possible business development deals, and that an acquisition was not discussed. I spoke briefly with StumbleUpon CEO Garret Camp this afternoon but he refused to comment, saying “we do not comment on rumors.” Fair enough.
The real story may be a disconnect between the company’s executives and investors.
StumbleUpon has only raised a single seed round of financing - $1.5 million - and angel investors often informally shop a company, with or without the company’s permission, in the hope of an early cash out.
Full story plus comments...
posted by NextNetBlogger at 5:12 AM
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