MySpace acquires Photobucket for $ 250 million

A series of major purchases continues. At first, having quarreled , and then reconciled again with Photobucket photo storage, the world's largest social network MySpace decided that it would be easiest to buy this site. Or, some believe, the quarrel itself was part of the negotiations conducted by the companies.

According to Techcrunch , the founders of Photobucket have tried to sell their business since March of this year, when they turned to Lehman Brothers for help. Initially, they estimated the site at 300 million, but probably there were not so many potential buyers who could outbid the price offered by MySpace. As a result, the companies agreed on the amount of $ 250 million in cash. So last year’s $ 15 million in investments in the company turned out to be a good investment.

This purchase seems to be a logical conclusion to the history of the relationship between the two sites. Recall that Photobucket receives most of its traffic from MySpace, and the very future of the site depends largely on the visitors of the social network. Last year, Photobucket earned $ 6.3 million and plans to earn more than $ 25 million this year. At the moment, the site has 40 million registered users and every day 85,000 more people are registered.
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