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Facebook Acquires Karma

News updates all day from your Fast Company editors.

Because simply having the largest IPO in U.S. history isn't enough for Facebook, the social network also went shopping. The social gifting mobile app called Karma is announcing that it has been acquired by Facebook. The company's cofounders, including Lee Linden, one of Fast Company's Most Creative People of 2012, says that the app will continue to operate as is. Facebook's interest in Karma is probably due to its expertise in mobile, an area that the social network knows it must master and figure out how to monetize.

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