Facebook buys startup Glancee


Mark Zuckerberg and his cohorts are at it again. This time, instead of buying a big name in the online world, they are acquiring an upstart.

Just a few weeks after Facebook acquired Instagram, the company has again went to shop and shop they did. They acquired the smartphone application for finding like-minded individuals nearby.

Analysts say that this move by the social networking giant is a talent grab rather than an app grab.

Glancee said in their Website, “We started Glancee in 2010 with the goal of bringing together the best of your physical and digital worlds. We wanted to make it easy to discover the hidden connections around you, and to meet interesting people.”

“We are therefore excited to announce that Facebook has acquired Glancee and that we have joined the team in Melo Park to build great products for over 900 million Facebook users,” they added.

Glancee’s application was removed from Apple’s online App Store last weekend.

The terms of the purchase was not disclosed but it is believed that it would be far less than what Facebook paid for Instagram.

Facebook executives are currently scouring the United States this week in an intense marketing drive ahead of the company’s trading launch.

Image Source: ubergizmo.com