Mike Arrington at TechCrunch is reporting that Toronto based Bubbleshare is in rumored aquisition talks with News Corp. for about $ 5 million dollars. Bubbleshare was started by Canadian serial entrepreneur Alberta Lai.

I loved deals like this. Albert and his team have been getting some great press for their simple and easy to use photo sharing service all year. To my knowledge they haven’t taken any venture money yet, so this could be a great deal for the founders and angels involved.

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On Tue 14 Nov 2006.