eBay sells StumbleUpon back to original owners

StumbleUpon has announced that its original owners have bought the company back from eBay.

eBay bought the site two years ago for $75 million, but has now sold it back to co-founders Garrett Camp and Geoff Smith, along with a group of investors.

On the official StumbleUpon blog, Camp said: "After nearly two years as a subsidiary of eBay, today StumbleUpon returns to being an independent company."

"This change will help StumbleUpon move quickly and stay true to its focus - helping people discover interesting web content. Our goal is to make StumbleUpon the web's largest recommendation engine and we think this is the best way to get us there."

He also stated in the blog that there was "more good news to come" so further changes seem likely to happen at the company.

This departure from eBay has come as rumours abound that it will also be selling Skype, which it purchased around the same time for $2.6 billion, back to its original owners.

Jennifer Scott is a former freelance journalist and currently political reporter for Sky News. She has a varied writing history, having started her career at Dennis Publishing, working in various roles across its business technology titles, including ITPro. Jennifer has specialised in a number of areas over the years and has produced a wealth of content for ITPro, focusing largely on data storage, networking, cloud computing, and telecommunications.

Most recently Jennifer has turned her skills to the political sphere and broadcast journalism, where she has worked for the BBC as a political reporter, before moving to Sky News.