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Facebook Gets Some Karma (in an App)

By   /  May 22, 2012  /  No Comments

Facebook is buying Karma, a social gifting app that we have covered before.

Facebook is buying Karma, a social gifting app that we have covered before. According to Om Malik of GigaOM, “The news was released via Karma’s blog. As we first posted, Karma was founded by Lee Linden and Ben Lewis who in their past life were co-founders of Tapjoy, that was acquired by Offerpal Media after reaching more than $100 million in revenue. Investors in Karma include Kleiner Perkins Caufield & Byers, Sequoia Capital, and Evan Williams and Biz Stone’s Obvious Corp.” A Facebook spokesperson commented, “We’ve been really impressed with the Karma team and all they accomplished in such a short time. This acquisition combines Karma’s passion and innovative mobile app with Facebook’s platform to help people connect and share in new and meaningful ways.”

When the Karma app originally launched, GigaOM commented, “What’s nice about the Karma app is that users can send gifts almost instantaneously, without having to enter their billing information before doing so. You also don’t need to have the address or contact info of the recipient — they enter that information when they choose to accept a gift. It also allows users to send a personalized note to people they’re gifting, either by SMS, posted on their Facebook walls, or by email. Those receiving gifts can even choose between options or swap out something they’ve been given if they’re not thrilled with what was initially gifted to them.”

Image: Courtesy Karma

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