Facebook's First Post IPO Acquisition: Karma


Bangalore: Facebook, which went public yesterday, says it’s acquiring Karma, founded by Lee Linden and Ben Lewis. According to the news released via mobile social gifting app’s blog, the company along with its 16 employees will be joining Facebook for an undisclosed sum of money.

In Karma’s blog post, the co-founders wrote: “Over the last year, we’ve built a new e-commerce platform from the ground up. We’ve been honored to partner with amazing brands to create a curated catalog of products. We made those products instantly giftable in a brand new way. And we harnessed the power of Facebook’s social network to ensure you never miss a chance to show someone you care. The phenomenal response and feedback we’ve heard from customers has more than exceeded our expectations. And we’re just getting started — today we take social gifting to the next level.

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. As we say … only good things will follow.”

As reported by Gigaom, Facebook plans to keep the service alive.