New Delhi: Facebook has acquired Branch, a New York-based social network that hosts and publishes invite-only conversations. Branch focuses on providing online forums for in-depth conversations.
Terms of the deal have not been disclosed yet, but the acquisition is estimated to be worth around $15 million. The deal was announced by Branch's co-founder in a Facebook post. "After two years building Branch and Potluck, I am thrilled to announce that we will be continuing our mission at Facebook," said Miller.
"We will be forming Facebook's Conversations group, based in New York City, with the goal of helping people connect with others around their interests. Their pitch to us was: "Build Branch at Facebook scale," he added.
The social startup launched two years ago with backing from The Obvious Corp, a company formed by Twitter co-founders Biz Stone and Evan Williams.
The full Facebook post from Miller:
After two years building Branch and Potluck, I am thrilled to announce that we will be continuing our mission at Facebook!
We will be forming Facebook's Conversations group, based in New York City, with the goal of helping people connect with others around their interests. Their pitch to us was: "Build Branch at Facebook scale!"
Although the products we build will be reminiscent of Branch and Potluck, those services will live on outside of Facebook. A more thoughtful note and details to come soon but I am writing this haphazardly from a mountain in Japan (I was tipped that the story was going to leak while on vacation).
In the meantime, a huge "thank you" to our investors. Especially, Jason Goldman, Evan Williams, Biz Stone, Ryan Freitas, John Borthwick, and Jonah Peretti, who all spent an extraordinary amount of time with us.
Most importantly though, a big congrats to my eight teammates who have worked tirelessly,
often behind the scenes. So much and admiration: http://branch.com/company#team - on we go!
####
Comments
0 comment