Hugely Popular Photobucket For Sale

Photobucket is a pretty amazing machine. It purposely avoids the community stuff that places like Flickr and Zooomr look for, while focusing almost exclusively on hosting images - many of which end up on MySpace and Facebook.

Fortune profiles the company and what they are up to here. Arrington says that Lehman Brothers (LEH) is trying to sell the company for $300 to $400 million. I'd think Fox Interactive would be the most logical buyer.

Just last week Tabblo (another photo sharing site) was purchased for an undisclosed amount (likely north of $6 million) by HP (HPQ).