TechCrunch has just confirmed that Photobucket will be acquired by MySpace for $250 million in cash. According to TechCrunch, Photobucket has been looking for buyer since March and they are looking at selling the company for $300 millions or more.

Some readings from HitWise, via boygeniusreport

• Photobucket is the 22nd most visited website overall in the US among all US websites for the week ending May 5, 2007
• 58.78% of Photobucket’s traffic came from MySpace.com and MySpace Mail combined for the week ending May 5, 2007.
• Based on Hitwise Clickstream data, Photobucket was the fifth most popular website visited after MySpace.com, with 1.7% of the traffic leaving MySpace.com to go to Photobucket for the week ending May 5, 2007.