May 8, 2007 — (WEB HOST INDUSTRY REVIEW) — Social networking site MySpace (myspace.com) reached a preliminary deal Monday to acquire multimedia file sharing site Photobucket (photobucket.com) for around $250 million in cash, according to a source familiar with the deal.
The tentative agreement comes as surprise to many considering the companies’ tumultuous relationship in the past, which led to Photobucket videos being blocked on MySpace.
Launched in 2003, Photobucket provides free, online storage tools for multimedia purposes, including photos, videos and digital slideshows. The site currently holds a nearly 40 percent share of the US online photo market, and receives 17 million unique visitors per month.
MySpace, on the other hand, has 41 million registered users and hosts nearly 2.8 billion images on its site.
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