StumbleUpon, a web content discovery service, has recently acquired a Montreal based video company 5By for an undisclosed sum of money, reports TechCrunch. Post acquisition 5By’s team will relocate to Stumbleupon’s San Francisco office and will continue building a standalone product which will be launched later.
5By is a portal exclusively dedicated to video content, segregated over different categories such as Cheering you up, Common man, Blowing you away, entertaining you and lots more. Also, the categories change on a daily basis, thereby providing the users with a wide variety of choices each day.
StumbleUpon provides a unique way for internet users to find websites, videos or photos related to topics they are interested in. The users can pick the relevant topics from a wide range of options available on the site. On top of every post is a toolbar that enables a user to like or dislike a page, and to “stumble” onto something new.
It also has a mobile application for iOS, Android, windows and Amazon app store.
The latest move by the company is aimed at categorizing different types of video content with 5By, so that its core product gets smarter about video content as well. The team believes video streaming will account for the majority of online content consumed by 2016. “We saw how fast video was growing, and we wanted to move faster”, said Mark Bartels, CEO StumbleUpon.
Till date, the company has raised two rounds of funding, viz. Series A in 2009 and $17 Mn Series B in 2011 backed by Accel Partners, August Capital, DAG Ventures, First Round Capital and Sherpalo Ventures.
Last week, StumbleUpon also announced its yearly revenue of $30 Mn for the FY12. The revenues are further projected to reach $35-$40 million this year.