MySpace will buy Photobucket for $250 million

With on the rise popularity of Photobucket, Myspace, owned by Murdoch’s News Corp., has signed a definitive agreement to purchase it for about $250m. Actually Photobucket was on the lookout for someone to buy it since March & now Myspace has said yes to buy it. With 46 global ranking, Photobucket is expanding at a very rapid speed likened to Yahoo’s Flickr. Photobucket is said to be consisted with 41m users globally sharing 2.8b images plus commanding 40% share of the US online photo hosting. So, I don’t think any doubt that Myspace is interested in acquiring it. The companies have been in serious acquirement negotiations for the past two weeks – A disagreement that caught up Photobucket videos being blocked on MySpace took to acquisition consideration, and the block was isolated. Photobucket created $6.3m in revenue previous year and made plans on hitting more than $25m this year. They have 40 m registered users and include another 85,000 each day.