Facebook Buys FriendFeed

Posted: Aug 11 2009, 10:20am CDT | by , Updated: Aug 11 2010, 3:44pm CDT, in News | Technology News

 
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FriendFeed, a service that allows users to incorporate all of their social networks into a single news feed, has been acquired by Facebook. The announcement was made this morning by the FriendFeed official blog. This acquisition should not alter the status of the FriendFeed product in any way right now. Integration with Facebook may come in the future, but those plans have not been settled yet.

According to TechCrunch this deal was more about Facebook getting the FriendFeed team than the actual product itself. Both companies apparently had a very friendly relationship, and Facebook was impressed with the innovation shown by the folks at FriendFeed. Their twelve employees will be scattered about Facebook and integrated into new positions.

The cost of this deal was roughly $50 million in cash and stock from Facebook. The Wall Street Journal says it was roughly $15 million cash, and the remainder in Facebook stock that, after vesting, will be worth around $32.5 million. Considering the fact that FriendFeed is a rather small start-up that only managed to raise $5 million in 2008, this is an impressive amount of money.

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<a href="/latest_stories/all/all/5" rel="author">Robert Evans</a>
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