eBay, StumbleUpon part ways

"We are grateful to eBay for its guidance," said Garrett Camp, one of the founders of StumbleUpon, which had been an eBay subsidiary.

"However, we realised there were few long-term synergies between the two businesses," Camp said. "It is best for us to part ways and focus on our respective strengths.

"This change makes it possible for StumbleUpon to continue to innovate and focus on becoming the Web's largest recommendation service," added Camp, who will serve as chief executive of the company.

Terms of the separation were not disclosed.

Camp said StumbleUpon had now "returned to the ranks of an investor-backed start-up" and had received backing from Sherpalo Ventures, Accel Partners, and August Capital.

The statement said StumbleUpon plans to unveil several new products and features in the coming months.

Unlike Google and other search engines designed to help people efficiently scour the Internet with specific targets in mind, StumbleUpon's "discovery engine" finds websites that promise to appeal to users' passions.

Founded in 2001, it claims more than 7.4 million users.

The separation comes as eBay refocuses its activities on its core business of running an online auction house.

The New York Times reported on Friday that eBay may be looking to sell its hugely popular Internet telephone service Skype back to its two founders.

Niklas Zennstrom, from Sweden, and Janus Friis, from Denmark, founded Skype in 2003 and sold it to eBay two years later for US$2.6-billion.

They are now seeking to raise one billion dollars from private equity firms to re-claim their brainchild, according to the Times.

Skype, which has its headquarters in Luxembourg, bypasses the standard telephone network by channelling calls over the Internet.

Source: AFP

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