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The heavily-rumored acquisition of social sharing site StumbleUpon by eBay finally came to fruition, with eBay shelling out "an aggregate transaction value of approximately $75 million" for the site.

StumbleUpon Stumbles Into eBay For $75 Million

Both TechCrunch and GigaOM predicted yesterday the StumbleUpon purchase would be completed, and were proved correct.

eBay announced it would pick up StumbleUpon for about $75 million. StumbleUpon originated in Canada, and provided a browser toolbar that allows users to click a button and find sites within their selected areas of interest.

Those sites would be ones tagged by other StumbleUpon users, and each user can vote sites up or down when they appear in a Stumble. The simple yet effective concept caught on quickly, and the company moved to California to be closer to the action in Silicon Valley.

StumbleUpon claims a userbase of 2.3 million. They recently launched a video product called StumbleVideo, which focuses on video results.

Michael Buhr, a senior director at eBay, will become StumbleUpon's general manager. As one of StumbleUpon's happy users, I'm hoping eBay won't turn the product into a non-stop lovefest of auctions appearing in the Stumbles.