Google To Acquire Jambool For $70 Million

Tuesday Aug 10th 2010 by Staff

Google buys yet another social media company--this time one that enables payments.

TechCrunch: Unnamed sources tell TechCrunch that Google is purchasing start-up Jambool for $55 million plus another $15 to $20 million earnout. Jambool offers a product called "Social Gold" which competes with Facebook credit and allows developers to accept payment directly from their apps.

The acquisition adds more fuel behind the rumors that Google will soon unveil a social networking service.

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