Emerging TechnologyMobileFacebook Buys Social Gifting Mobile App

Facebook Buys Social Gifting Mobile App

Karma is its fifth mobile-based acquisition of the year.

karma-facebookFacebook’s mobile-based buying spree continues, as the Menlo Park, CA-based digital giant scooped up Karma on May 18 for an undisclosed price.

While the Karma brand will remain intact, the move could bolster Facebook’s ability to monetize its mobile and commerce initiatives. San Francisco-based Karma lets smart phone users send gifts to friends, who can then swap them for something else, donate the value to charity, or accept the item and get it delivered e-commerce-style.

According to SEC filings, five-month-old Karma has raised $4.5 million from investment firms like Kleiner Perkins Caufield & Byers and Sequoia Capital.

This year, Facebook has also purchased mobile photo sharing firms Instagram and Lightbox, loyalty platform Tagtile, and Glancee, a system that alerts users when people with similar interests are nearby. Each acquisition has a significant focus on mobile.

InsideFacebook first reported the Karma purchase.

Related Articles

Facebook goes after clickbait headlines - five tips to maintain reach

Content Marketing Facebook goes after clickbait headlines - five tips to maintain reach

12m Tereza Litsa
YouTube is getting rid of 30-second unskippable pre-roll ads

Ad Industry Metrics YouTube is getting rid of 30-second unskippable pre-roll ads

1y Al Roberts
Ad blocker use continues to grow rapidly

Ad Industry Metrics Ad blocker use continues to grow rapidly

1y Al Roberts
How to take advantage of Facebook's focus on longer videos

Social How to take advantage of Facebook's focus on longer videos

1y Tereza Litsa
Is Facebook Instant Articles a flop for publishers?

More News Is Facebook Instant Articles a flop for publishers?

1y Al Roberts
More brands sign up for Snapchat, but many aren't active

Display Advertising More brands sign up for Snapchat, but many aren't active

1y Al Roberts
Facebook to get mid-roll video ads, share revenue with users: report

Display Advertising Facebook to get mid-roll video ads, share revenue with users: report

1y Al Roberts
Facebook reveals it miscalculated even more metrics

Analytics Facebook reveals it miscalculated even more metrics

2y Al Roberts