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| Breaking: Photobucket Acquired By MySpace (Update: Confirmed) |
| Wednesday, May 09, 2007 |
Breaking: Photobucket Acquired By MySpace (Update: Confirmed)
It’s the deal you never thought would happen: MySpace acquiring Photobucket, the “parasite” that fed off MySpace traffic and hosted a massive number of MySpace photos. There’s no word on whether the $300M price tag, which Photobucket was being shopped around for, was met.
Seemingly first reported by Valleywag, final negotiations are said to have happened last week. The deal may be announced as early as this morning. Launched in 2003, Photobucket receives 17m unique visitors per month - a massive number, except that the majority of traffic was being referred by MySpace (despite constant denials from the company).
After a bust up between the companies that led to Photobucket videos being blocked on MySpace, it looked like Photobucket’s relationship with the social network it fed on wasn’t running smoothly. That’s why this deal will take a while to sink in.
We should add that neither party has confirmed the acquisition at this point: we’re waiting for confirmation from Photobucket.Labels: ALL, NEWS, TECH
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posted by Usmanzali @ 7:12 PM   |
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