MySpace Acquiring Photobucket for US $ 250 million
CNET News reports that Rupert Murdoch owned social-networking site MySpace is acquiring Photo & Video sharing site Photobucket. According to Mike Arrington of TechCrunch the deal is worth US $ 250 million. Mike wonders whether MySpace got Photobucket cheap; when compared to US $ 1.65 billion that Google paid for YouTube.
Photobucket is a hybrid competitor of Yahoo! owned Flickr and Google owned YouTube. Flickr also plans to allow video uploads. After completing its absorption of Yahoo! Photos it would be the largest photo upload and sharing site with over 2 billion stored pictures. Daily traffic trends for YouTube, MySpace, Photobucket and Flickr from Alexa below:
POSTED IN: MySpace
2 opinions for MySpace Acquiring Photobucket for US $ 250 million
Arjun
May 9, 2007 at 7:28 am
The acquisition is also somewhat of a defensive move for MySpace. Snapping up the photo site will enable it to stem the flood of users leaving MySpace to visit Photobucket. Almost 59 percent of Photobucket’s traffic comes from MySpace’s community of users, according to Hitwise.I read Watblog….For further info. check this link out:http://www.watblog.com/?content=detail&id=700
TheBizofCoding
May 26, 2007 at 6:04 am
Is this Karmic boomerang or what? Eventhough MySpace bought over Photobucket they might be sufferring the Karmic effects of messing with Photobucket blocks some times prior to the acquisition? Those blocks had pinched traffic on Photobucket hurtin…
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