Facebook announced their latest move this morning, acquiring little-known startup West Bacon News for $7 Billion. Founder Mark Zuckerberg has been on a tear lately scooping up other tech gems including WhatsApp for $19B and Oculus VR for $2B.
Industry analysts were surprised but said it at least made more sense than the WhatsApp transaction. Time’s Harry McCracken feels West Bacon News was a fit because it has found something Zuck was looking for:
Facebook has had an ongoing problem with young users. Its audience is growing in the 25+ demographic but they’re losing teens like crazy. Insiders saw a startling amount of activity with the demographic on the West Bacon News page. For most of their lives these youth have been coddled by their parents, the schools, and tech companies like Apple and Facebook. WBN founder Warren Redpork seems to have uncorked the bottle by calling the kids out for their misbehavior and even taunting them.
The acquisition price consists of 10% cash and 90% Facebook stock. In related news, local Porsche dealerships in and near West Bacon are reporting a sudden lack of inventory.
