Apple Buys Facebook for 38.4 Billion
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In a surprise deal Apple Inc. (NASDAQ:AAPL) made an offer to buy Facebook. Apple has been know as the “anti-social” company and in a bold move to change that the company decided scoop up the most social company in a stock swap.
Sources close to Apple have put the value of the deal at 38.4 billion dollars. 30 billion dollars in stock and 8.4 billion in cash to the founder of Facebook.
Facebook is already deeply woven into the Apples ecosystem as a large part of the users are engaged through a mobile device. Social Graph will complement the existing iTunes platform. As the social media will be the future of branding Apple hopes to push more of its products to socially engaged consumers.
This move may be surprising to some but there’s definitely seems to be some value for both companies. No matter what you may think of Apple, they never overpay and you can’t underestimate their track record in creating market changing products and services.
Image credit Ben Stanfield