Facebook has acquired location sharing company Gowalla for an undisclosed amount according to sources with CNN. “We don’t comment on rumor and speculation,” responded a Gowalla spokesperson. Gowalla employees including the founder Josh Williams would relocate to Facebook’s offices in Palo Alto to work on the Facebook Timeline feature.
Gowalla launched in Austin, Texas in 2009. They went head-to-head with Foursquare throughout the last two years, but failed to gain as much traction. Gowalla recently decided to change the direction of the company by switching to a travel guide.
Gowalla raised about $10 million in funding from the Founders Fund, Greylock Partners, and angel investors.
“It’s a perfect match,” stated CNN’s source. “As far as the big picture, Gowalla’s vision is about people telling stories, and Facebook’s vision for Timeline is about stories about important moments in life.” Some of Gowalla’s employees will remain in Austin, Texas to work at the Facebook office there.