TechCrunch confirmed that Photobucket is selling to MySpace for $250m with additional $50m earn-out upside. Not bad return for $15m in two rounds of financing.
In case you missed the tiff, MySpace has blocked the use of Photobucket on its site a couple of times recently, including during a Spiderman campaign which involved a slideshow widget promoting the movie. Photobucket CEO, Alex Welch, went public with his issue on his blog and in media. He quickly reverted to a more conciliatory tone. And see how he has been rewarded for his good behavior.
Shout out to Ian Schafer & TechCrunch for breaking the news.