Facebook Bought 'fb.com' For $8.5 Million

Facebook has reportedly paid a whopping $8.5 million to the 6 million-member American Farm Bureau Federation to acquire the 'fb.com' domain name.

According to Reuters, the company bought the domain name for internal use by its employees.

Facebook CEO Mark Zuckerberg had revealed at a press event back in November that the company had acquired the domain name from the AFBF, but had not revealed the price.

“The Farm Bureau agreed to sell us fb.com and we in return have agreed not to sell farm subsidies,” Zuckerberg told TechCrunch.com.

At an annual meeting in Atlanta, US, AFBF officials revealed that the organisation had made $8.5 million by selling some of its domain names, but refused to name the buyers. The association still owns a collection of key domain names related to farming.

Since the acquisition, all people visiting 'fb.com' are being redirected to 'fb.org', a domain name owned the Farm Bureau.