Facebook Acquires Parse for $85 Million in Cash and Stock

The social network giant, Facebook, just acquired a new small company again as a part of its aggressive growth.

The company is the cloud service firm, Parse, a provider of developer tools for apps in different mobile platforms. Facebook announced this acquisition and confirmed it in their blog today. According to TechCrunch, the deal was closed at around $85 million in cash and stock.

With this move of Facebook, it is not only focusing from being a social network but a business service provider as well.

Parse is responsible for the toolbox of utilities used in developing apps and allowing it to integrate directly to the social network giant.  For instance, an app made with Parse would work on any mobile platforms such as iOS devices, Android devices, Windows Phones, and works the same as Facebook app.

facebook and parse

This will allow Facebook to eliminate the competition with established app stores. Basically, the Facebook App will work on any mobile platform without having to contest in Google Play or iTunes.

People at Parse should be happy with this deal. The cloud service company had raised $7 million in capital since the start of operation and the $85 million acquisition deal is an excellent exit for the founders which was reported to be former Yahoo and former Google techs.