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Updated - Facebook will make 20 acquisitions this year

Updated - Facebook will make 20 acquisitions this year

The 750 million user-strong social networking giant has told Bloomberg that it is hoping to make 20 acquisitions in 2011. The company has so far purchased 13 this year.

This is double the amount of take-overs the company made in 2010, and a huge increase from their development in 2009, where only one acquisition was made.

Vaughan Smith, Facebook's director of corporate development, said "Two years ago we didn't have a track record in acquisitions. We've built a culture that supports entrepreneurs, and it's working incredibly well." Smith declined to shed more light on the future acquisitions, but highlights the importance of expanding.

Analyst, Debra Aho Williamson has spoken up saying that "Facebook is just trying to get the smartest people possible in any way it can. The idea of bringing in new talent, smart talent, people who have created interesting products that Facebook can capitalise on, is going to be important to them."

Mobile communications and software design are just two of the different companies that Facebook is looking to branch out into purchasing.

Bloomberg speculates the reason for this is a response to competitors Twitter and Google. The latter has recently launched Google+, the fastest growing social networking site to date, and taken over Motorola Mobility.

Lou Kerner, an analyst at Wedbush Securities, said: "The future of all computing is mobile. Mobile, I think, is the top priority at the company."

Facebook purchased Snaptu, a mobile start up company, earlier this year for $60m. Also already under its belt this year is design software developers Push Pop Press, which offered publishing software for touch screen devices. This said, Facebook have previously declined the claim that they will enter into the world of e-publishing.

For our world-class Facebook course, contact the experts at The Knowledge Engineers today.

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