Facebook grabs social network BranchJanuary 13th, 2014 in Technology / Internet
The Facebook homepage on a computer in Washington on May 6, 2012
Facebook on Monday confirmed that it has grabbed a hold of Branch, a social network that focuses providing online forums for insightful conversations.
Terms of the deal were not released, but some reports estimated the price at $15 million.
"I am thrilled to announce that we will be continuing our mission at Facebook," Branch co-founder and chief executive Josh Miller wrote in a blog post that he said was fired off while vacationing at a mountain locale in Japan.
Miller wrote that the New York City-based startup's twin social networks, Branch and Potluck, will continue to operate independently but its nine-member team will form a Facebook Conversations group.
The group's goal will be to help Facebook users connect in meaningful exchanges based on interests, according to Miller.
The start-up launched about two years ago with backing from The Obvious Corp., a technology firm incubator formed by Twitter co-founders Biz Stone and Evan Williams.
© 2014 AFP
"Facebook grabs social network Branch." January 13th, 2014. http://phys.org/news/2014-01-facebook-social-network.html