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April 2, 2013 10:50 am GMT
Facebook is in the process of acquiring startupBang With Friends, according to multiple sources, in order to make a foray into the online dating space. According to these same sources, the acquisition will be a $30 million deal in both cash and stock, as that seems to be the standard M&A terms for gimmicky startups these days.Concerned about what the success of college-friendly dating apps like Tinder, Crazy Blind Date and Grouper means for the future of social, we're hearing Facebook CEO Mark Zuckerberg decided to scoop up the service to ramp up Facebook's competitiveness. We're also hearing that Facebook attempted to clone the product, which allows friends to choose which of their friends they're interested in sleeping with (and connects them if the feeling's mutual), internally before approaching the founders. Robust staff penetration and rumors that Google is building a competitive hook-up platform called Google F*ck Now also hastened the deal.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/ITDAd4Sgnow/
Facebook In Talks To Buy Bang With Friends
Facebook is in the process of acquiring startupBang With Friends, according to multiple sources, in order to make a foray into the online dating space. According to these same sources, the acquisition will be a $30 million deal in both cash and stock, as that seems to be the standard M&A terms for gimmicky startups these days.Concerned about what the success of college-friendly dating apps like Tinder, Crazy Blind Date and Grouper means for the future of social, we're hearing Facebook CEO Mark Zuckerberg decided to scoop up the service to ramp up Facebook's competitiveness. We're also hearing that Facebook attempted to clone the product, which allows friends to choose which of their friends they're interested in sleeping with (and connects them if the feeling's mutual), internally before approaching the founders. Robust staff penetration and rumors that Google is building a competitive hook-up platform called Google F*ck Now also hastened the deal.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/ITDAd4Sgnow/
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