Facebook on Friday confirmed that they have purchased a new company that aims at loyal shoppers called Tagtile. The company was founded by two Indians, who worked at Google and VMWare previously and is currently based out of San Francisco and the largest social network has acquired all of the developers working for Tagtile. The amount at which Facebook acquired the company is still unknown and this comes right after Facebook acquired Instagram for a billion dollars.
Facebook confirmed this news in an email statement, “We’re happy to confirm that Tagtile’s founders are joining Facebook, and that Facebook is acquiring substantially all of the company’s assets,” . This year, Facebook seems to be on a shopping spree this year and Facebook has been aiming at bringing in a lot of talents into the company.
This is a huge news and Facebook is preparing to boost a $5 billion in their IPO this year and Facebook’s IPO would be the biggest ever Internet IPO in the History of Internet. Facebook is expected to be valued for $100 billion in the stock sale this year.