March 8, 2013
Social networking giant Facebook (NASDAQ: FB ) is acquiring start-up Storylane for an undisclosed amount. Storylane was launched late last year, and the goal was to make social content more engaging and in-depth. The social platform allowed users to follow other users, as well as featured relevant stories. Storylane can be described as a blogging platform similar to Tumblr that uses simple interface design.
The deal was announced on founder Jonathan Gheller's Storylane profile page. Gheller said the small company was always interested in building genuine online identities, which is also something Facebook has long championed. The acquisition is considered talent-oriented, since Storylane's designers were part of what made the start-up a success.
Storylane is no longer accepting sign-ups, and Gheller also confirmed that Facebook was not acquiring any of Storylane's user data.