• Facebook Paid Farm Bureau $8.5 Million To Acquire Fb.com

    Tuesday, January 11th, 2011

    Alexia Tsotsis is the co-editor of TechCrunch. She attended the University of Southern California in Los Angeles, CA, majoring in Writing and Art, and moved to New York City shortly after graduation to work in the Media industry. After four years of living in New York and attending courses at New York University, she returned to Los Angeles in... → Learn More

    On November 15th, Facebook CEO Mark Zuckerberg revealed that Facebook had acquired Fb.com from The American Farm Bureau Federation to use as the domain for internal email addresses now that the Facebook Messages were parked on Facebook.com. But what he didn’t reveal at the time? The acquisition price.

    Today Reuters is reporting that the Fb.com  domain acquisition, which moved the 6 Million member Farm Bureau over to Fb.org, cost Facebook $8.5 million.

    “At their annual meeting in Atlanta, Farm Bureau officials on Tuesday said the organization earned $8.5 million by selling a couple of domain names but is barred from identifying the buyer.”

    We of course are still chuckling over how Zuckerberg announced the sale “The farm bureau has agreed to give us FB.com and we in return have agreed to not sell Farm subsidies.”

    Hmm … Not even virtual ones?

    Image via Qweas

    Company: Facebook
    Website: facebook.com
    Launch Date: February 1, 2004
    IPO: NASDAQ:FB

    Facebook is the world’s largest social network, with over 845 million monthly active users. Facebook was founded by Mark Zuckerberg in February 2004, initially as an exclusive network for Harvard students. It was a huge hit: in 2 weeks, half of the schools in the Boston area began demanding a Facebook network. Zuckerberg immediately recruited his friends Dustin Moskovitz, Chris Hughes, and Eduardo Saverin to help build Facebook, and within four months, Facebook added 30 more college networks. The original...

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