StumbleUpon lays off dozens after failing to raise new round, source says

StumbleUpon started in 2002, got acquired by eBay for $75 million in 2007, and spun out of eBay two years later. For years news outlets occasionally found themselves getting swarmed with web traffic when an article was submitted to StumbleUpon, allowing Web surfers to come across websites relating to their interests. Advertisers pay to get their content natively placed on websites that get stumbled upon by the types of people that advertisers are looking for. News sites get page views.
StumbleUpon claims that 120,000 brands and publishers, including HBO, Levi’s, and Nike, use its advertising system.
StumbleUpon offers mobile apps, but news discovery apps such as Flipboard have gained traction in the past few years. StumbleUpon, meanwhile, has not reported new user numbers since 2012. Data from AppAnnie about the download rate of StumbleUpon’s iOS app does not bode well.
http://venturebeat.com/2015/08/10/stumbleupon-lays-off-dozens-after-failing-to-raise-new-round-source-says/