MySpace to acquire Photobucket
May 08, 2007
Mergers and Acquisitions
MySpace has reached a preliminary deal to acquire Photobucket, the world’s top photo-sharing site, for approximately $250 million.
Photobucket helps Web users post their photos on other social networking sites, instead of trying to keep the users locked up on its own site, and besides MySpace, is extremely popular on Facebook, Bebo, Friendster, eBay, Craigslist, Blogger and Xanga.
In April, MySpace had blocked traffic from its site to Photobucket after a dispute over technical issues led MySpace to accuse Photobucket of violating the social network site’s service terms. Two weeks later, both said the dispute was resolved.
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