Facebook goes shopping again!!!
This time, according to a VentureBeat, Facebook acquired 18 key patents related to social networks from MOL Global.
Out of the 18 patents, seven were awarded to Friendster, while the remaining are still pending. The seven patents and eleven patent application is said to have been transfered on June 7.
According to VentureBeat, the patents include:
a “system and method for managing an online social network,” “feeding updates to landing pages of users of an online social network from external sources,” and a “system, method and apparatus for connecting users in an online computer system based on their relationships within social networks,” among others. Together, they appear to give Facebook control over a substantial portfolio of intellectual property covering the basic operations of any social network.”
The overall deal, which included cash was valued at $40 million, reports GigaOm
The deal makes Facebook CEO Mark Zuckerberg undisputed king of social network, not only in terms of social service and users, but also in terms of intellectual properties.
