Facebook’s acquisition roll returned stateside, as Josh Miller, CEO of link-sharing service Branch, announced in a Facebook post Monday morning that Facebook acquired Branch and its sister service, Potluck.
The Branch team, which is made up of nine people, according to The Verge, will remain based in New York, where it will form the new Facebook Conversations group.
Terms of the deal were not disclosed, but sources familiar with the transaction estimated its value at about $15 million, according to The Verge.
Miller wrote in his Facebook post announcing the deal:
After two years building Branch and Potluck, I am thrilled to announce that we will be continuing our mission at Facebook!
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. Their pitch to us was: “Build Branch at Facebook scale!”
Although the products we build will be reminiscent of Branch and Potluck, those services will live on outside of Facebook. A more thoughtful note and details to come soon but I am writing this haphazardly from a mountain in Japan (I was tipped that the story was going to leak while on vacation).
Readers: What new products and features do you think Facebook will be able to create using Branch’s team and technology?