Privately owned colossus of the social network scene FaceBook has announced the acquisition of photo-sharing site Divvyshot for an as yet undisclosed fee.
Divvyshot, based in California, were already actively searching out ways to raise funds via private equity, but when approached by FaceBook, who were offering a much better cash and stock incentive, Divvyshot accepted without hesitation. As of yet both companies have refused to divulge any financial information on the deal.
Divvyshot executives took little time in gushing their pleasure over the deal, stating that not only was it an offer they couldn’t refuse, but also enthusing the fact that they were excited about the direction in which FaceBook has promised to take the company.
FaceBook themselves were also delighted with the tie-up, saying they have been keeping an eye on Divvyshot for a while now and had been admiring the efforts of the Divvyshot engineering team in driving the site forward on the photo-sharing/social network scene.
Divvyshot was only founded last year (2009) by Sam Odio with a self-description of “photo sharing, especially among groups of friends and family members.”
The upshot of the acquisition means that Divvyshot themselves will no longer be accepting new accounts and all existing members of the site will have their accounts moved over to FaceBook within the next couple of months. Some Divvyshot employees will be joining the FaceBook photo and image team – a team that deals with FaceBook’s over 400 million users all over the world uploading over three billion images and photos each and every month!