Founders buy StumbleUpon back from eBay

Hard on the heels of Skype's  founders announcing they want to buy the VoIP service provider back, StumbleUpon's founders have actually gone ahead and done it, The Guardian says.

Auction house eBay paid $75 million for the web content discovery service in May 2007. Now co-founders Garrett Camp and Geoff Smith amassed a team of investors and bought StumbleUpon back.

An entry on the StumbleUpon blog hints at a lack of ambition by eBay saying 'our goal is to make StumbleUpon the web's largest recommendation engine and we think this is the best way to get us there'.

In 2007, the same blog read, "We think eBay is a great fit for us because eBay and StumbleUpon share similar approaches - we're both driven by our community of users, and we are both dedicated to connecting people."

This doesn't bode well for the deal announced on Sunday, in which eBay agreed to buy a controlling stake in South Korean online retailer Gmarket Inc for $413 million, at a 32.5% premium, as reported by Reuters.

EBay would buy a 34.2 percent stake in Gmarket from its current top shareholder Interpark and the Korean firm's chairman, at $24 a share, eDaily reported, citing unidentified sources.

Spokesmen at Gmarket and Interpark could not confirm the report.

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