Facebook Planning To Make 20 Acquisitions In 2011
Facebook is planning to acquire a total of 20 companies in 2011. This is up from 11 in 2010. Facebook wants to acquire companies that will improve their website design and advance their mobile features.
Facebook believes that a focus on design will encourage people to spend more time on the social network. Facebook has made 13 total acquisitions this year total so far.
“Two years ago we didn’t have a track record in acquisitions,” stated Facebook director of corporate development Vaughan Smith. “While we expected them to work well, it was still a crapshoot how they’d turn out. We’ve built a culture that supports entrepreneurs, and it’s working incredibly well.”
Facebook has raised a total of over $2 billion from investors, which enables them to make acquisitions of social and mobile start-ups. Some of the companies that Facebook hired this year include Snaptu, Sofa, and Push Pop Press.@amitchowdhry or on Google+ at +AmitChowdhry