Home > Social > Facebook lists on NASDAQ – Buys Karma – Gift App Company with FaceBook Currency

Facebook lists on NASDAQ – Buys Karma – Gift App Company with FaceBook Currency

May 19th, 2012

Social Network Facebook listed on NASDAQ creating history across the world by raising funds from investors at a whopping valuation of $102 Bn. Facebook stock closed the day with just 0.61% gain giving the company a valuation of $104 Bn which is one of the most sought after currencies for Mergers & Acqusitions in the Mobile and Social space. Apart from this Facebook is sitting on $16 Bn cash after its IPO.

Armored with $16 Bn Cash and FB Currency, Mark Zuckerber made his first move and bought Karma Science – a social gifts app maker which lets users gift to their contacts on facebook. If you feel that you have enough, then you can choose to donate the gift to charity as well using Karma interface. Zuckerberg’s initial idea of making Virtual Gifting a big idea is now closer to reality πŸ™‚

The real challenge ahead of Zuckerberg is to compete Google on its Social initiative, Mobile and ofcourse the Social Search which is being led by Bing. What once upon a time Microsoft Research guy Gordon tried to build – MyLifeBits is actually nothing but Facebook, which captures every bit of our life. Zuck, go spend some time with BillG he has more Advise for you Young Man πŸ™‚

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