Facebook Buys $40 Million Friendster Patents
Driving relevance means driving growth. Join global brands and industry thought leaders at Brandweek, Sept. 11–14 in Miami, for actionable takeaways to better your marketing. 50% off passes ends April 10.
Facebook has quietly protected its dominant position in social networking by buying the Friendster portfolio of patents from MOL Global.
A Facebook spokeswoman confirmed the deal – which covers seven patents and 11 pending patent applications – to VentureBeat, but didn’t disclose terms. GigaOm reports that the deal was valued at $40 million and included a combination of advertising, a partnership for payments for virtual goods, and cash.
MOL bought Friendster, which is still popular in parts of South-East Asia, for $39.5
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in