Facebook Buys $40 Million Worth of Social Networking Patents

Discussion in 'Social Media for Business' started by realitybites.in, Aug 5, 2010.

  1. realitybites.in

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    Apr 23, 2009
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    Facebook has acquired a broad set of patents on social networking covering the basic functions of just about any social app, ranging from friend lists to the news feed.

    The patents were acquired from Friendster, which has been awarded a wide array of social networking patents over the last decade. According to VentureBeat, there are 18 patents in all; GigaOm reports the price of the portfolio was $40 million.

    As with many technology patents, the Facebook patents are rather broad (some might say ridiculously obvious, too). For example, one of the patents, as we wrote back in 2006, covers “a system, method, and apparatus for connecting users in an online computer system based on their relationships within social networks.” Another covers the slightly more innovative concept of photo tagging.

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