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Facebook (NASDAQ:FB) paid over $80M to buy social gifting app developer Karma, sources tell...

May 24, 2012 6:15 PM ETMeta Platforms, Inc. (META) StockMETABy: Eric Jhonsa, SA News Editor
Facebook (NASDAQ:FB) paid over $80M to buy social gifting app developer Karma, sources tell Bloomberg Businessweek. Karma, whose purchase was announced on IPO day, could help Facebook finally turn e-commerce into a meaningful revenue stream, courtesy of affiliate fees on recommended purchases. Given the challenges Facebook's ad business is dealing with, many are hoping e-commerce turns into major a growth opportunity.

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