Facebook has grown to be not only the most popular social media site/app, it is one of the biggest and most profitable companies in the world as well, with a market capitalization of more than $200 billion. The company’s exponential success can be credited to its strategic acquisitions, among many reasons. Here is a history of Facebook acquisitions to help you understand the company’s growth.
Parakey: Just 3 years after it was founded, Facebook made its first acquisition – a small online start-up aimed to improve and facilitate media transfers between the Internet and PCs.
FriendFeed – Facebook acquired FriendFeed, a social media feed aggravator, as well as the company’s employees for $47.5 million.
FB.com – the company purchased this domain name from the American Farm Bureau Federation for $8.5 million.
Octazen Solutions – Facebook bought this Malaysian tech company that enabled importing contact and viral invite scripts.
Divvyshot – A site for group-sharing photos, Facebook acquired this for seamless photo sharing among users.
Friendster-owned patents – Facebook spent $40 million to acquire several patents owned by its social network predecessor, Friendster.
Chai Labs – Facebook spent $10 million to acquire Chai Labs, mostly because it wanted the man behind its computer engineering, Gokul Rajaram.
Hot Potato – By acquiring Hot Potato for $10 million, Facebook could enable users to check-in at their locations.
SnapTu – For around $40 to $70 million, Facebook bought SnapTu to redesign its mobile app completely, including versions we still use today.
rel8tion – A small start-up acquired by Facebook, this enabled hyper-local advertising on mobile phones and increased revenue generated from its apps.
Beluga – This acquisition allowed for the creation of the mobile messaging app for Facebook, with group messaging as the main feature.
Instagram – Facebook bought the photo-sharing app for $1 billion, making it one of the company’s most famous acquisitions.
Face.com – For a reported $100 million, Facebook bought this Israeli company to integrate facial recognition in their photos.
Atlas Advertiser Suite – For a little less than $100 million, Facebook acquired this from Microsoft.
Onavo – A tech company from Israel, Onavo was acquired by Facebook for around $150 to $200 million, mainly for its impressive suite of mobile analytics.
WhatsApp – The largest acquisition by Facebook till now, the company bought the free mobile messaging app for $19 billion.
Oculus VR – A virtual reality tech company, Oculus was acquired by Facebook for $2 billion, along with the VR company’s first product called Oculus Rift. Facebook’s aim is to develop an immersive VR gaming experience as well as virtual social networking.
Ascenta – Facebook paid $20 million to buy this UK-based company, which deals in designing and building unmanned aerial vehicles which can fly at high altitudes, which Facebook plans to use to give developing countries access to the Internet.