Quantcast

Haute 100 Update: Facebook Plans their Biggest Acquisition Spree Yet

In late June, Facebook founder and CEO Mark Zuckerberg unveiled plans for a video chat feature on the company’s website, saying it marked “the beginning of Launching Season 2011.” As it turns out, that’s only the tip of the iceberg for the ambitious young billionaire.

Facebook’s director of corporate development, Vaughan Smith, announced that the Palo Alto company is planning on the acquisition of about 20 companies in 2011. Previously having only purchased 10 in 2010 and one in 2009, this is a significant jump in acquisition goals, with Facebook only having purchased 13 companies so far this year.

Since Zuckerberg’s announcement of the video chat feature, Facebook has also introduced a mobile messaging app called Facebook Messenger, which was based on technology Facebook acquired along with its purchase of Beluga in February.

A more recent acquisition for the company was Push Pop Press, a San Francisco e-book publisher that became known for its innovation involving the book Our Choice by Al Gore.

So far, it seems that the social media giant is aiming to purchase more companies that can provide talent or technology in the design and mobile fields, much like the reasoning behind their purchases of Beluga and Push Pop Press.

Smith said, “We’ve built a culture that supports entrepreneurs, and it’s working incredibly well.” Debra Aho Williamson, an analyst at EMarketer explained, “The idea of bringing in new talent, smart talent, people who have created interesting products that Facebook can capitalize on, is going to be important to them.”

Our Haute 100 list details the accomplishments of the most influential people in each of our markets. To see the entire Haute 100 San Francisco list, click here.

Comments Off
connect with haute living National
Loader
New York February / March 2014
New York February / March 2014