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