Facebook Buys Out Drop.io

Posted Nov 1, 2010

Facebook has acquired Drop.io, a New York based start-up company that lets users share files through a drag-and-drop interface. Drop.io founder Sam Lessin will be joining Facebook full-time.

“In the coming weeks, we’ll be winding down the drop.io service. As of this week, people will no longer be able to create new free drops, but you’ll be able to download content from existing drops until Dec. 15,” stated a blog post on Drop.io’s company blog. “Paid user accounts will still be available through Dec. 15 and paid users will be able to continue using the service normally. After Dec. 15, paid accounts will be discontinued as well.”

Lessin went to Harvard University with Facebook founder Mark Zuckerberg. In David Kirkpatrick’s book “The Facebook Effect” Lessin was described as a crucial person for the social network’s early development. “At the end of the (spring 2004) semester, Lessin, whose father was a well-known investor, took Zuckerberg around New York to meet with venture capitalists and executives in the finance and media industries,” stated the book.