Facebook Buys Rival FriendFeed for $50M

Facebook is buying fellow social networking site FriendFeed for nearly $50 million, the Wall Street Journal reports. Friendfeed, a 12-employee outfit founded by former Google engineers, allowed users to share information across multiple social media services but never took off beyond a core techie user base. The purchase may help Facebook in its battle with Twitter, which it failed to buy last year and which is outpacing Facebook in the lucrative area of real-time search.
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