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Chris Hughes' Jumo Folds for GOOD

Jumo, a startup venture that helps raise money for nonprofit groups through social networking has been acquired by publisher GOOD.

Jumo, a relatively small firm that works on a social networking platform to enable users to help nonprofit groups with time and money through Internet has been taken over by publishers of a magazine and website, Good.

“I’ve always felt the real potential of GOOD was to connect people wanting to take action with the organizations and businesses that could help them do that, and Jumo is the connective tissue that will allow and enable that to happen,” chief executive of Good, Ben Goldhirsh said.

Although the details, terms and conditions of the acquisition have not been revealed by either side, the merger awaits approval from the attorney general of New York.

Jumo was founded by Chris Hughes, one of the co-founder of Facebook to enable people come forward and help the society with minimum efforts. Hughes left Facebook in 2008 to work for Barack Obama’s website during the election campaigning.

Juno received great response from the people initially with more than 114,000 visitors in December last year. However, the numbers have reduced to 8,500 last recorded in June. Good has a potential visitor base of three million every month.