Latest in Acquire

Image credit:

Facebook likes Karma app, buys the whole darn thing

1 Shares
Share
Tweet
Share
Save

Sponsored Links

What does one do after generating billions from an initial public stock offering? Go shopping, of course. After falling short of expectations following its somewhat helter-skelter IPO debut, Facebook simply shook off the whole thing and acquired itself some good Karma. No, we're not talking about that Karma. Instead, Facebook purchased the startup responsible for the Karma social gifting app. The move was apparently made to bolster Facebook's mobile chops -- an area the company considers ripe for opportunity. Just recently, Facebook also acquired mobile stalwart Instagram and the Lightbox team, for example. As for its newest purchase, Karma will be allowed to "continue to operate in full force" despite its recent status change, according to a blog post by co-founders Lee Linden and Ben Lewis. Details weren't disclosed about how much the deal was worth but judging from celebratory nature of their post, it doesn't look like Linden and Lewis will "Unlike" the agreement any time soon.

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Share
1 Shares
Share
Tweet
Share
Save

Popular on Engadget

The 2019 Engadget Holiday Gift Guide

The 2019 Engadget Holiday Gift Guide

View
What's coming to Netflix in December: 'The Witcher' and 'Lost in Space'

What's coming to Netflix in December: 'The Witcher' and 'Lost in Space'

View
Verizon's 5G coverage maps are here, and they're sparse

Verizon's 5G coverage maps are here, and they're sparse

View
Apple's iPhone 11 battery case includes a dedicated camera button

Apple's iPhone 11 battery case includes a dedicated camera button

View
Hyundai's Vision T concept SUV looks like a driveable TIE Fighter

Hyundai's Vision T concept SUV looks like a driveable TIE Fighter

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr