Photobucket exit strategy: Flame, Sorry, Sell

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.

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