Acquisition positions both companies on a track to completely revolutionize global communications and content distribution.
MENLO PARK, Calif., March 31, 2015: Synereo Ltd., the decentralized and distributed social network, is ecstatic to announce that it has reached an agreement for the acquisition of its technology and assets by Facebook Inc., world’s leading provider of social networking services, for a total of approximately $26.7 billion. This includes $6.8 billion in cash and the rest in shares of Facebook common stock (valued at $19.9 billion based on the average closing price of the 20 trading days preceding March 31). The agreement also provides for an additional $13.3 billion earn-out in cash and stock based on the achievement of certain milestones, making it Facebook’s largest acquisition to date.
Synereo is a global leader in decentralization technology, having spent the last 4 years developing and implementing a unique fully decentralized P2P communication and content delivery stack that powers the attention-economy enabled social network. Synereo has conditioned the deal on the immediate implementation of its decentralized technology – “just shmecking the Facebook UI on top of Synereo’s backend” as Synereo Co-Founder and President, Anderson Mccutcheon, put it.
“We just put a decentralized bullet through Facebook’s head” said Synereo co-founder and CEO, Dor Konforty. “By the time Facebook realize that a decentralized social network can’t actually be acquired or controlled, we’ll be long gone with the money, and Synereo will have over a billion active users”.
“I have no fucking idea what happened. Nobody talked to me, I feel like this was all done behind my back” said Facebook founder and CEO Mark Zuckerberg as he was bitchslapping David Wehner all the way to the coffee machine. “At least I have chicken” he concluded.
The transaction has taken place on March 22nd and will be fully represented in Facebook’s financial reports for the second quarter of 2015.
Synereo’s mission is to give people the power to share and make the world more open and connected. People use Synereo to stay connected with friends and family, to discover what’s going on in the world, and to share and express what matters to them.
Facebook’s so called mission is to give people the power to share and make the world more open and connected. People use Facebook to stay connected with friends and family, to discover what’s going on in the world, and to share and express what matters to them, as long as it generates enough revenue to justify its development.
Learn more about Synereo by visiting http://www.synereo.com.