StumbleUpon has acquired 5by, a video discovery service, for an undisclosed sum. This is StumbleUpon's first acquisition since the web discovery company was founded in 2001.
5by launched earlier this year and describes itself as a "video concierge." The startup is based in Montreal and has six people on staff. 5by will continue to build out mobile and desktop products.
"By bringing on a complete team solely focused on video and mobile we believe this will help us accelerate our video discovery product plans," Mark Bartels, StumbleUpon's CEO, said in a statement provided to Mashable.
Earlier this month, StumbleUpon revealed that it expects to generate $35 million to $40 million in revenue this year and become profitable. The company generated $30 million in revenue in 2012.
Image: StumbleUpon