It is interesting to see companies being bought over buy big ones. Facebook for example, had made its first purchase at a whopping billion dollar for the photo sharing service, Instagram. It seems that the company had its eye on another application called Glancee and apparently, it was sold for an undisclosed sum as well.
Facebook is currently lacking in mobile presence but instead of creating new applications, they have decided to take over a few noteworthy companies instead. Glancee suits the bill especially when it is one of the best applications when it comes to finding out friends that are available around you. By merging with Facebook, the user database can be big especially if Facebook decides to integrate this application to almost all of the users of website.
Glancee also comes with a competitor called Highlight which is roughly thrice bigger but apparently, Facebook made the move on this application instead. Maybe it was due to a lower price tag. After all, Facebook did made a purchase on Instagram for $1billion dollars. In addition to that, with the company going public and will be selling its shares in between $28 to $35, expect Facebook to have some big pockets to make some serious purchases.