Formerly Calgary-based (and now San Francisco based) StumbleUpon looked like it was on top of the world last year when it was purchased by eBay for $75 million. But the celebration has long since subsided, now that it's rumoured that eBay is looking to unload their purchase, which many never regarded as a proper fit for the company in the first place (much like their much more expensive purchase of Skype.)
Adding to StumbleUpon's woes is a $8 million lawsuit filed by Neil Hart, a British man who claims he was cut out of the company's big payday. According to Hart, he struck a deal to advise the company on investment and business planning for a $1 fee and an eight percent stake in the company, but that his shares were diluted and he was never informed of the eBay offering. StumbleUpon has fired back with a $10 million counterclaim of their own, but no matter how the lawsuit is resolved, the shine of one of Canada's golden startups has dimmed just a little.
StumbleUpon helps you discover and share great websites. As you click Stumble!, we deliver high-quality pages matched to your personal... [more]
Warren Frey
Warren Frey is a writer, editor, blogger and podcaster based out of Vancouver, BC. After working for six years in the Canadian broadcasting industry, he switched to print and has since covered varied assignments from plumbing conferences to star-studded film galas. But he’s never lost his love for the internet and interactive media, from his teens...[more]
