Facebook buys startup backed by Twitter co-founders
Source: Scott Martin
Facebook has purchased Branch, a startup backed by two of Twitter's co-founders, according to the small company's CEO.
Branch is a way for people to connect and talk about Web information.
"We will be forming Facebook's Conversations group, based in New York City, with the goal of helping people connect with others around their interests," Branch CEO Josh Miller announced on his Facebook page.
New York-based Branch's investors include Twitter co-founders Evan Williams and Biz Stone via an incubator called Obvious. The startup has attracted $2 million in funding that also includes SV Angel, Lerer Ventures, Rick Webb, Lucas Nelson, Ryan Freitas, David Tisch, betaworks and BoxGroup
Financial terms of the deal were not disclosed. The move to grab Branch was intended as an "acqui-hire," according to Facebook spokeswoman Genevieve Grdina.
| }
|