Facebook Acquires Trueblue Magazine
Facebook Inc, valued at over $134 billion (with a b) has been on a fishing expedition as of late in buying promising startups. From Instagram, to WhatsAPP, then Occulus Rift, now Facebook Inc has put a bid in to buy small startup publication Trueblue Magazine.
In the wake of the startup madness all the tech giants have been on a buying spree to secure their future. Late last week when Yahoo emailed owner of Trueblue Magazine, Sebastian Barkovic to set up a meeting, Facebook decided to do the same. After hours of meetings and several bids, Yahoo bowed out and let Facebook take the reigns on this startup. The details are still hazy but the tech giant is said to have bought the company, that’s less than 3 months old for 2.5 million. 50% will be paid out in shares and the remaining balance will be paid out in cash over the next 90-120 days.
Facebook has said that it’s first order of business with Trueblue Magazine is to change their color of blue to their color of blue. It is said that they will be turning the magazine into a “best-of Facebook posts” site.
When we asked Sebastian how he felt about the recent acquisition he said:
2.5 million isn’t that much now a days, I sure hope their stock goes or I will be stuck with worthless pieces of paper — like the Who’s Line Is It Anyways, you know where the points don’t matter. In all seriousness, I can now use that money to buy Apple stock — that’s a sure shot right?