MySpace buys Photobucket?
One cannot be too careful with acquisition rumors - a lesson learned by the recent “breaking” news about Microsoft possibly buying Yahoo!, which has turned out to be…well, nothing more than a rumor.
This time, it’s Valleywag and Mashable that claim to have the exclusive on the latest acquisition deal. MySpace is buying Photobucket; the very site it shut off a couple of weeks ago. Photobucket is a favorite photo sharing/storage site among MySpacers, and it seemed that MySpace was getting a bit jealous.
Jealous enough to churn at least 300 million dollars to simply buy entire Photobucket; at least according to Valleywag’s sources.
As always, here at FranticIndustries we don’t care how much money the suits will make. We care only about the actual users. For them, this is OK news, as PhotoBucket won’t get shut off by MySpace anymore, but nothing to cream their pants about.
May 7th, 2007 at 10:06 am
[…] MySpace Buys Photobucket: Is Rupert Murdoch An Alternative to Google and Yahoo? May 7th, 2007 at 2:06 pm by Tony Well, well, well. Looks like all that sabre-rattling some weeks ago had nothing to do with MySpace wanting to wall in its users after all, but everything to do with acquisition negotiations. Valleywag has the details, with the rest of the usual suspects quivering with bloggerific anticipation, but it looks like Rupert Murdoch’s MySpace has acquired Photobucket for a rumoured $300 million, which is a staggering 50 multiples above earnings ($6 million and change last year, apparently). […]
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