What does billionaire Mark Zuckerberg want to buy with his (ok, Facebook’s) money? Startups, startups, and more startups. Just minutes after the closing bell rang on Facebook’s first day of public trading, the company announced its acquisition of social and mobile gifting startup Karma.
Here’s the post from Karma’s blog:
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.
A few days ago, we offered our own predictions about what startups Facebook should acquire. Karma wasn’t on the list, but hey, we’re not fortune-tellers. With billions in its cash vaults, Facebook can afford to grab any upstarts that catch its eye. -Laurie