Social media giant, Facebook has just added 10 new talented people to its human resource pool, thanks to the acquisition of Branch and Potluck for a reported price of $15 million.
Cemre Güngör and Josh Miller founded the social platform Branch, back in 2012 with backing from Twitter co-founders Biz Stone and Ev Williams. They later launched Potluck, a web and mobile app “designed for friends to hang out and talk about cool things they find online”
The Verge has recently reported that Facebook bought the company behind both these products for $15 million. The firms will now become a part of the social media platform. Specifically, a team of 10 people from the company will form Facebook’s new Conversations group located in New York City.
The buyout was conformed by Miller via a Facebook post: “After two years building Branch and Potluck, I am thrilled to announce that we will be continuing our mission at Facebook! We will be forming Facebook’s Conversations group, based in New York City, with the goal of helping people connect with others around their interests.”
Facebook, does have a history of buying up smaller companies, asked Miller to build Branch at “Facebook scale”, though both Branch and Potluck will continue to “live on” outside of the Facebook sphere.
Nearly all of Facebook’s recent acquisitions tend to be for the human resource talent and the acquired products, which they were working on, are subsequently shut down. Instagram is a notable exception to this rule however. It’s also the largest acquisition that Facebook Is has ever made, costing them $1 billion 2 years ago, in 2012.
Is Facebook becoming too big for its boots? What do you think? As always your sensiblr commments are welcome.
Cemre Güngör and Josh Miller founded the social platform Branch, back in 2012 with backing from Twitter co-founders Biz Stone and Ev Williams. They later launched Potluck, a web and mobile app “designed for friends to hang out and talk about cool things they find online”
The Verge has recently reported that Facebook bought the company behind both these products for $15 million. The firms will now become a part of the social media platform. Specifically, a team of 10 people from the company will form Facebook’s new Conversations group located in New York City.
The buyout was conformed by Miller via a Facebook post: “After two years building Branch and Potluck, I am thrilled to announce that we will be continuing our mission at Facebook! We will be forming Facebook’s Conversations group, based in New York City, with the goal of helping people connect with others around their interests.”
Facebook, does have a history of buying up smaller companies, asked Miller to build Branch at “Facebook scale”, though both Branch and Potluck will continue to “live on” outside of the Facebook sphere.
Nearly all of Facebook’s recent acquisitions tend to be for the human resource talent and the acquired products, which they were working on, are subsequently shut down. Instagram is a notable exception to this rule however. It’s also the largest acquisition that Facebook Is has ever made, costing them $1 billion 2 years ago, in 2012.
Is Facebook becoming too big for its boots? What do you think? As always your sensiblr commments are welcome.
