$250 million deal, MySpace to acquire Photobucket

It would only seem natural that site for teens and a site teens use for uploading their MySpace Mirror-shots join forces, right? Well it’s official, MySpace has acquired popular photo sharing site Photobucket for a whopping $250 million, with the possibility of an earn-out for up to an additional $50 million.

This deal seems to complete MySpace, as they’ve already attempted to take on YouTube with their MySpace videos section. Photobucket generated $6.3 million in revenue last year, and was planning on hitting the $25 million mark this year. Photobucket has 40 million registered users and grows by about 85,000 per day. I’d expect to see that user number grow when the MySpace integration begins.

via [TechCrunch]