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U.S. markets recover from steep losses
PALO ALTO, Calif., Aug. 16 (UPI) -- The social networking Web site Facebook will likely expand its online presence with its purchase of social aggregator FriendFeed, The Washington Post reports.
Facebook reportedly paid $47.5 million to acquire FriendFeed, a service that can consolidate a user's online social networking activities. The acquisition marks a step by Facebook, the company founded in Cambridge, Mass., toward being the dominant force in social networking, the Post said Sunday.
Prior to purchasing FriendFeed, Facebook began attempting to connect social networking services like Twitter and Digg through Facebook Connect.
Facebook Connect allows users to use their Facebook credentials on participating sites, thereby allowing their activities on those sites to be added to their Facebook profile. Nearly 15,000 Web sites currently support Facebook Connect.
The Post said while Facebook Connect serves as a way for Facebook to expand its online reach to thousands of other Web sites, the company's acquisition of FriendFeed will help bring more sites directly to Facebook.
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It is a whole new ball of wax in Europe these days.
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