Why did Facebook just buy FriendFeed? Not for its userbase, the techiest of techies, or for its product, but for its talent.
Based on a call we just left with reps from both companies — Facebook VP of engineering Mike Schroepfer and FriendFeed cofounder Paul Buchheit — Facebook wanted, plain and simple:
- FriendFeed’s 11 engineers
- Its ex-Google cofounders, who helped build products like GMail, Google Maps, etc. (Bret Taylor and Buchheit pictured)
- And their ideas, primarily to be built into Facebook
The companies won’t talk numbers, but the WSJ puts the deal at $50 million--$15 million of cash and the rest in stock.
Meanwhile, some updates from TechCrunch:
- The deal was “an 11th hour deal,” the companies have been talking for a while, but “things heated up in the last couple of weeks”
- Friendfeed’s employees will be broken up within Facebook, reporting to different groups
- FriendFeed will move to Facebook’s new HQ in Palo Alto from their Mountain View offices
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