Facebook Acquires FriendFeed

TechCrunch has a preliminary report that Facebook has acquired FriendFeed:

Facebook has acquired FriendFeed, we’ve learned. We’re gathering details now. At this point details on the acquisition are still very sparse, but it’s clearly a good match. Over the last year or so, Facebook has “borrowed” quite a few of features that FriendFeed popularized, including the ‘Like’ feature and an emphasis on real-time news updates.

This is a very strategic move for Facebook since it will complement their current set of features and take a step towards the "real-time web". Facebook just issued the following press release:

PALO ALTO, Calif. — August 10, 2009 — Facebook today announced that it has agreed to acquire FriendFeed, the innovative service for sharing online. As part of the agreement, all FriendFeed employees will join Facebook and FriendFeed’s four founders will hold senior roles on Facebook’s engineering and product teams.

“Facebook and FriendFeed share a common vision of giving people tools to share and connect with their friends,” said Bret Taylor, a FriendFeed co-founder and, previously, the group product manager who launched Google Maps. “We can’t wait to join the team and bring many of the innovations we’ve developed at FriendFeed to Facebook’s 250 million users around the world.”

“As we spent time with Mark and his leadership team, we were impressed by the open, creative culture they’ve built and their desire to have us contribute to it,” said Paul Buchheit, another FriendFeed co-founders. Buchheit, the Google engineer behind Gmail and the originator of Google’s “Don’t be evil” motto, added, “It was immediately obvious to us how passionate Facebook’s engineers are about creating simple, ground-breaking ways for people to share, and we are extremely excited to join such a like-minded group.”

Taylor and Buchheit founded FriendFeed along with Jim Norris and Sanjeev Singh in October 2007 after all four played key roles at Google for products like Gmail and Google Maps. At FriendFeed, they’ve brought together a world-class team of engineers and designers.

“Since I first tried FriendFeed, I’ve admired their team for creating such a simple and elegant service for people to share information,” said Mark Zuckerberg, Facebook founder and CEO. "As this shows, our culture continues to make Facebook a place where the best engineers come to build things quickly that lots of people will use."

FriendFeed is based in Mountain View, Calif. and has 12 employees. FriendFeed.com will continue to operate normally for the time being as the teams determine the longer term plans for the product.

Financial terms of the acquisition were not released.

FriendFeed also "accepts Facebook's friend request". One of the drawbacks of a lower number of key players lead to a lack competition and eventually a slower pace of innovation in the industry. For the social media scene, this will be seen as good news since market consolidation is usually a sign of a maturing industry. With the speed social media grew, it should be no surprise that it will mature as fast.

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