Facebook buys FriendFeed – Good, Bad or Ugly?

FBFFSo the news just broke, Facebook the dominant player in the Social Media space has just bought FriendFeed a Twitter-esqe (although more robust) micro-blogging platform.

PALO ALTO, CALIF.—August 10, 2009—Facebook today announced that it has agreed to acquire FriendFeed, the innovative service for sharing online. As part of the agreement, all FriendFeed employees will join Facebook and FriendFeed’s four founders will hold senior roles on Facebook’s engineering and product teams.

Now not much is known as of yet to how the sites will integrate or what the fate of FriendFeed will be, but one can’t help but be cautiously excited for the ongoing innovation that this acquisition and merger will bring to Facebook and the social media community as a whole. One hope for me is that they keep some of the major features that FriendFeed has like the “feed/group rooms” and the ability to have one spot for your overall online life-stream.

Facebook in addition to picking up a great service, Techcrunch points out that the senior FriendFeed team is of  extremely high caliber:

But the biggest win here for Facebook is the FriendFeed team, which includes an all-star cast of ex-Googlers. Perhaps best known of these is Paul Buchheit, who is responsible for creating Gmail, pioneering some of Google’s early (and incredibly lucrative) advertising products, and coining Google’s “Don’t be evil” motto. Other ex-Googler co-founders include Bret Taylor, Jim Norris, and Sanjeev Singh.

It’s an exciting time in the social media space. I’m really excited to see what comes of this latest development.

What are you thoughts on this tech development?  Is this merger Good, Bad or Ugly? Post your comments below.

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