Facebook continues to take the social networking world by storm with their fearless leader Mark Zuckerberg recently recognized as TIME’s 2010 Person of the Year. With no signs of slowing down, Facebook has proclaimed its intent to acquire as many as 15 startup companies in 2011.
PEHUB’s Alastair Goldfisher was on hand to report on statements made by corporate development manager of Facebook Michael Brown, in a seminar called “Startup Exit Seminar: Early Stage M&A.” Brown disclosed that the target acquisitions “will be a mix of talent acquisitions, where we’re looking for people to run important parts of our product [and] who have a really strong vision.”
A clip from the seminar can be viewed below.
These acquisitions are seen as essential to furthering Facebook’s growth by bringing in new ideas and technology that can enhance Facebook’s existing portfolio and/or adding new features. Of the eight acquisitions in 2010 totaling upwards of over $70 million, the largest purchase made by Facebook was that of $40 million to obtain ownership of social networking patents from Friendster. The rest were small startup companies with venture capitalist backing.
Facebook’s intent is a great testament of big payouts to come for startup companies that catch Facebook’s hungry eye in the upcoming year.