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Facebook first ever acquisition!

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Facebook Inc. ,Internet's second most visited website proved that it has enough money to buy and stand still in this wired world.

Facebook Inc. bought bought Parakey, a startup run by two of the engineers that helped build Firefox's popular Web browser the second most famous browser after Microsoft's very own Internet Explorer.

It represents the first acquisition in Facebook's three-year history. Financial terms weren't disclosed.

Parakey consists of just two people, Blake Ross and Joe Hewitt, who are best known for their contributions to the open-source initiative that created Firefox.

Ross and Hewitt will both go to work for Palo Alto-based Facebook, which is trying to turn its site into a melting pot of software applications and features contributed by software developers eager to reach its network of 31 million users.

''We are thrilled to join the most innovative technology company in the industry,'' Ross said.

Parakey had been trying to bridge the gap between information hosted on the Web and data stored on computer hard drives.

Privately held Facebook ranks among the Web's fastest growing sites. News Corp.'s MySpace is the only social networking site that is larger in the Internet market.

The Parakey acquisition is the latest indication that Facebook's 23-year-old chief executive, Mark Zuckerberg.

Yahoo Inc. offered to buy Facebook for about $1 billion last year, but Mark Zuckerberg refused the offer and washed off the very hyped trade of the year.



posted by >> @ 8/01/2007 07:11:00 PM,


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