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Tagged Likes Hi5, Acquires it to Rival Facebook

Tagged acquired Hi5, an online community, in a bid to setup a worthy Facebook rival. No further details regarding the acquisition have been disclosed yet., which was introduced towards the end of 2004, enables the members to connect with strangers and friends. Besides socialising the members can also sent virtual gifts as well as play a number of games. On the other hand, Hi5 was created in the year 2003 as a social network, however, since last two years it is focusing entirely on hosting online games.

Post this acquisition both these companies based out of San Francisco will be operating as independent brands. For the time being Tagged plans to bridge the gap between its 100 million users and 230 million users of Hi5.

Co-founder of Tagged, Greg Tseng, said, "An opportunity of this magnitude is uncommon and exciting as the addition of hi5 immediately doubles our overall active user base and grows combined registered users past 330 million members," reported AFP.

"Tagged is the perfect home for hi5 as it continues to prove itself as a major contender in social," said Alex St. John, president and chief technology officer of hi5.