Facebook, which is heading for an IPO in next few days is not done with acquisitions yet. Lightbox, a social photo sharing app, has announced on their blog that they have been acquired by Facebook for an undisclosed amount.
Lightbox, the android app, not only let users apply filters to photos like Instagram (Facebook acquired Instagram in April for more than $1 Billion in cash and shares) but also allowed them to store the photos and let them share on other social networking sites. After the acquisition, Facebook will be sun-setting the startup and the team will be joining Facebook. The Android app has already been pulled out from Google Play. Since Facebook will be terminating the app, the acquisitions looks to be made for the team behind the app. Lightbox, a 500 Startups company had raised $1.2 million in funding from 500 Startups, Index Ventures, Accel Partners, and SV Angel.
From Lightbox blog:
Today, we’re happy to announce that the Lightbox team is joining Facebook, where we’ll have the opportunity to build amazing products for Facebook’s 500+ million mobile users.
Facebook is not acquiring the company or any of the user data hosted on Lightbox.com. In the coming weeks, we will be open sourcing portions of the code we’ve written for Lightbox and posting them to our Github repository.
Facebook is aiming for an IPO and in its seventh amendment to its S-1, Facebook is offering 50.6m extra shares at a new price range of $34-$38 per share. The filing also states that high profile Instagram buyout might not close by second quarter of 2012 due to FTC probe, as it expected earlier. Since 2012, Facebook has acquired six startups — including the high profile Instagram buyout, Tagtile, Gazehawk, Sendoid, Glancee and now Lightbox.