Investments, News

Facebook acquires link sharing startup Branch for USD 15 Mn

facebook-logoFacebook, in year 2013 have been seen acquiring startups such as Monoidics, a code verification software developer, and Parse, a cloud based mobile app platform. Continuing with its acquisition spree, the social giant has now laid its hands on link sharing service Branch, along with Potluck, the company’s recently launched iPhone app.

The announcement was made by Branch’s CEO Josh Miller in a Facebook Post. Although the terms of the deal were not yet disclosed, as per the reports the deal amount is said to be USD 15 Mn.

Post acquisition, the Branch team will be forming Facebook’s Conversations group, based in New York City, with the goal of helping people connect with others around their interests.

Founded in 2011, Branch or Potluck, are link sharing services which allow a curated group to share and discuss around knowledgeable issues. people can create “branches” to discuss topics. Once a thread is made, the participants also can “branch off” into separate but related conversations.

Image: Geeky Gadgets

The company was backed by a group of angel investors including Evan Williams, Biz Stone, and Jason Goldman’s Obvious Corp., Jonah Peretti and Lerer Ventures, John Borthwick’s Betaworks, and Ron Conway’s SV Angel. In 2012, it also raised USD 2 Mn in a seed funding round.

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