MySpace to acquire Photobucket: source
LAS VEGAS/SAN FRANCISCO (Reuters) - MySpace, part of Rupert Murdoch’s News Corp., has reached a preliminary deal to acquire Photobucket, the world’s top photo-sharing site, for around $250 million in cash, a source familiar with the deal said on Monday.
Photobucket functions like a kind of Swiss bank for depositing and transmitting photos, helping Web users post their photos on other social networking sites, instead of trying to keep the users locked up on its own site.
Besides MySpace, Photobucket is popular on sites such as Facebook, Bebo, Friendster, eBay, Craigslist, Blogger and Xanga.
While hardly known outside the youthful world of social network sites, Photobucket has become wildly popular with users for providing free, online storage tools for multimedia self-expression, from photos to videos to digital slideshows. Site builders turn to it for images to decorate their sites.
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Source: www.reuters.com
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