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Facebook buys up social gifting app 'Karma'

Written by Andre Yoskowitz (Google+) @ 20 May 2012 12:42 User comments (2)

Facebook buys up social gifting app 'Karma' Facebook has purchased the social gifting app "Karma."
The move comes on the heels of the social networking behemoth purchasing Instagram and Lightbox, looking to expand their social footprint on mobiles.

Karma does not do all too much except let users connect to the network via the app and send others gifts.

Reads the press release:

We founded Karma with the goal of adding the sentiment and meaning back into gift giving. That's what Karma is all about. That's what the Karma team set out to achieve.

Over the last year, we've built a new e-commerce platform from the ground up. We've been honored to partner with amazing brands to create a curated catalog of products. We made those products instantly giftable in a brand new way. And we harnessed the power of Facebook's social network to ensure you never miss a chance to show someone you care. The phenomenal response and feedback we've heard from customers has more than exceeded our expectations. And we're just getting started - today we take social gifting to the next level.

We're thrilled to announce that Karma has been acquired by Facebook. The service that Karma provides will continue to operate in full force. By combining the incredible passion of our community with Facebook's platform we can delight users in new and meaningful ways. As we say... only good things will follow.

Simply put, together we can celebrate life's important moments in ways we could not before. A word of heartfelt thanks to our partners, customers, and our incredible team for helping us share Karma with so many people.

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2 user comments

120.5.2012 17:55

fb is taking over the world

222.5.2012 9:31

Time to play with the monopoly money I guess. Karma sounds good on paper, but in reality, it is anything but useful. First, you have to buy an overpriced item from their catalogue. A $50 quart of ice cream or a $25 homemade candy bar are just two examples. Not novel at all. Second, if Iím going to spend that much on a gift, then they better be a close friend/family. No way I can afford to do Ďlittleí events. Third, I have to pay shipping fees so the cost adds up pretty quick. And fourth, I canít make this a group giftÖ.have others chip in. The only social aspect is that the gifting is done through Facebook. Wow.

For the past few months, Iíve been using EventSmart (www.myeventsmart.com) which is really what social gifting should be. Itís free, the recipient can buy anything they want, and I can invite others to chip in. You can also contribute as little as $5 for anything. For example, recently a close friendís son had several surgeries on a broken leg. I started a gift, chipped in some money and then invited some mutual friends who contributed as well. EventSmart collected the contributions and then let my friendís son transfer the funds onto a gift card. He ended up buying some video games through Amazon. No fees. No overpriced items from a limited catalogue. Several people all contributed. Now thatís social gifting!

Karma is good marketing with no substance. Their mobile app is nice, but their offering is terrible. Iíd never use their restrictive service for overpriced stuff. Hope Facebook didnít pay that much, but when itís monopoly money, maybe it doesnít matter.

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