Facebook acquires Hot Potato for USD 10 million
Posted on 21. Aug, 2010 by Latha B. Reddy in Business
Facbook buys social checking service Hot Potato to push itself further through location based service. Hot Potato confirmed the deal with Facebook and the money that exchanged in the deal was not revealed. There are rumors though that Hot Potato was bought for $10 million.
Hot Potato is a social checking service that enables people doing common things to get connected. While there are certain fixed categories such as, ‘I’m reading,’ ‘I’m reading,’…at the Hot Potato, the account holders themselves can create new categories should they want to.
The Hot Potato makes it clear that it will not sign up new users and gave about a month’s time to the existent users to download their information and the content. Hot Potato also does not intend to transfer users’ data to the Facebook and will delete the users’ information.
Once the deal was finalized the service was linked to the Facebook and people can hunt for users who use the Hot Potato through respective Facebook logins. Facebook will announce about the ‘places feature’ which enables the users to disclose information on their locations to friends. Is Hot Potato $10 million worth? Facebook believes it is and we will know it soon.
