Around the Net


Facebook Plans More Mega-Buys

Think Facebook's purchase of Snaptu for a reported $60 million was big? Well, if the social network has its way, you ain't seen nothing yet.

"Facebook ... is planning acquisitions that will improve site design, keep its service reliable and advance mobile features to stave off competition," Bloomberg reports, citing comments from Vaughan Smith, Facebook's director of corporate development. All told, "the company aims to make about 20 purchases in 2011, up from 10 last year."

"Facebook wants 2011 to be the company's biggest year to date for acquisitions," The Register writes, while joking that Smith "clearly wants to stay in his job by notching up buyouts."

"With Google+ and Twitter iterating their own services to capture users from rival networks, Facebook believes that a focus on adding talent to its team, supporting the growing number of mobile users and making sure the social network runs smoothly is key to keeping the company one step ahead of its competition," The Next Web writes.

"Interestingly, [Facebook's] zeroing in on designers," notes Business Insider, citing Smith's comments. "The better Facebook's design, the more time people will spend on the site, he says." Bloomberg believes that Facebook has a few billion to reach its acquisition goal, so "it will probably be going after smaller companies in the coming months."

Adds The Next Web: "Analysts believe Facebook could make an acquisition in computing, seeking to buy companies with technology and employees that can help strengthen its system and open up new opportunities for the company."

Next story loading loading..