MySpace to acquire Photobucket.
Monday, May 28, 2007
Myspace to acquire Photobucket-internet's biggest online photo sharing website at a whooping $250 million.
Photobucket functions as a free account for photo sharing and storing online.The 4 year old website has 42 million registered users till date and still increasing.
The site was founded by two young telecoms engineers at Level 3 Communications Inc., Alex Welch and Darren Crystal. They came up with the idea of providing a simple, less commercial alternative to existing photo sharing sites.
Eventually, Photobucket raised $2.5 million in initial financing from Trinity Ventures and another $10.5 million from a group of investors led by Trinity a year ago. It eventually moved to Silicon Valley and now counts more than 65 employees.Now photobucket shares 60% of the total photo sharing in US which is nearly 4 times more than world's second visited website Yahoo Inc.a
Labels: tech updates
posted by >> @ 5/28/2007 03:40:00 PM,
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