FriendFeed’s price tag? $50 million, WSJ says
Facebook paid $50 million in cash and stock to buy social sharing site FriendFeed today, according to The Wall Street Journal.
The newspaper reported: “The company paid roughly $15 million in cash, with the rest in Facebook stock that vests over several years and would be worth roughly $32.5 million based on the $6.5 billion common valuation an investor recently placed on the company.”
FriendFeed last raised money in 2008 with $5 million from Benchmark Capital and Paul Buchheit and Sanjeev Singh, two of the founders. Neither company would reveal the financial terms of the deal in interviews today.
Facebook’s $6.5 billion valuation comes from Russia’s Digital Sky Technologies’ offer to buy employee stock last month.
Here are the files from the company’s Series A last year:
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About the Author, Kim-Mai Cutler
Kim-Mai was born and raised a stone's throw from Apple headquarters in Cupertino by a devout Hewlett-Packard family. After attending UC Berkeley, Kim-Mai worked for Bloomberg, The Wall Street Journal and Dow Jones Newswires in New York, Los Angeles, London and Buenos Aires. Follow her on Twitter at @kimmaicutler, and follow VentureBeat on Twitter at @venturebeat.
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