Facebook buys up Gowalla location-sharing service

Social networking giant Facebook has acquired location sharing service Gowalla for an undisclosed sum, with most of Gowalla's employees to work on Facebook's Timeline feature.

 

CNN Money cited sources who said the social networking juggernaut acquired Gowalla for an undisclosed sum, but added Facebook so far declined to comment on the deal.

 

"It's a perfect match. As far as the big picture, Gowalla's vision is about people telling stories, and Facebook's vision for Timeline is about stories about important moments in life," said the source, who asked not to be identified because the deal has not yet been publicly announced.

 

But Facebook has yet to comment on the deal. "We don't comment on rumor and speculation," CNN Money quoted a Facebook spokesperson as saying.

 

CNN Money quoted its sources as saying most of Gowalla's employees, including founder Josh Williams, will move to Facebook's offices in Palo Alto.

 

It said the team will work on Facebook's Timeline feature, which is gradually rolling out to Facebook's 800 million members.

 

Some Gowalla employees will stay in Austin and work out of Facebook's local office there.

 

Gowalla, launched in 2009, lost its rivalry with Foursquare and has shifted directions, projecting itself as a travel guide.

 

The report said it remains to be determined if Gowalla's app will remain alive.

 

CNN Money said Facebook views takeovers as a good way to build up its talent bench, and aims to make about 20 purchases in 2011, up from 10 last year. — TJD, GMA News