Facebook is putting the screws to Twitter and Google with multiple 2011 company acquisitions
Facebook is on target to buy 20 new companies in 2011 in an effort to better compete with Twitter and Google.
The social giant purchased 10 new companies last year and just one in 2009, but has already acquired 13 various firms this year.
Most recently, Facebook purchased the group-messaging service Beluga, which was created by several former Google employees, and re-released it as the “Facebook Messenger” product for the iPhone and Android smartphones.
In an interview with Bloomberg, Facebook’s director of corporate development Vaughan Smith explained the strategy behind Facebook’s acquisitions. “Two years ago we didn’t have a track record in acquisitions,” Smith said. “While we expected them to work well, it was still a crapshoot how they’d turn out. We’ve built a culture that supports entrepreneurs, and it’s working incredibly well.”
Facebook other big purchases this year include Snaptu, design firm Sofa and Push Pop Press.
