Facebook Acquires Majority Of Drop.io

Facebook has acquired the majority share in New York based start-up Drop.io, which allows users to privately share content through a drag and drop interface.

The start-up announced on its blog that Facebook had acquired most of its shares and that founder Sam Lessin will become a full-time Facebook employee.

Drop.io users will no longer be able to create new free drops by uploading content onto the platform, but will be able to download previously uploaded content until 15 December.

Paid user accounts will continue to function normally until 15 December, when they will also be discontinued.

Lessin is reported to have old ties with Facebook. According to tech news site Cnet, he was at Harvard with Mark Zuckerberg and had helped him get venture capital for Facebook.

A Facebook spokesperson said in a statement: “We can confirm that we recently completed a small talent acquisition for Drop.io and acquired most of the company's assets. We're thrilled that Sam Lessin will be joining us at Facebook.”

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