Following on from its recent acquisitions of Instagram for a cool $1 billion and the London based team from Lightbox, and of course its IPO on Friday. Facebook has now acquired the Karma App which has been designed to provide easier ways to gift friends and family.
No details of the deal have been revealed, but the full 16 strong team at Karma will be joining the Facebook fold. Helping it further expand on to mobile platforms.
A statement from Facebook explained “We’ve been really impressed with the Karma team and all they accomplished in such a short time. This acquisition combines Karma’s passion and innovative mobile app with Facebook’s platform to help people connect and share in new and meaningful ways.” Karma Co-founders Lee & Ben published an announcement on their companies blog explaining:
“We founded Karma with the goal of adding the sentiment and meaning back into gift giving. That’s what Karma is all about. That’s what the Karma team set out to achieve.
Over the last year, we’ve built a new e-commerce platform from the ground up. We’ve been honored to partner with amazing brands to create a curated catalog of products. We made those products instantly giftable in a brand new way. And we harnessed the power of Facebook’s social network to ensure you never miss a chance to show someone you care. The phenomenal response and feedback we’ve heard from customers has more than exceeded our expectations. And we’re just getting started — today we take social gifting to the next level.
We’re thrilled to announce that Karma has been acquired by Facebook. The service that Karma provides will continue to operate in full force. By combining the incredible passion of our community with Facebook’s platform we can delight users in new and meaningful ways. As we say … only good things will follow.
Simply put, together we can celebrate life’s important moments in ways we could not before. A word of heartfelt thanks to our partners, customers, and our incredible team for helping us share Karma with so many people.
Karma Co-founders Lee & Ben”
Source: Tech CrunchFiled Under: Technology News