Facebook has picked up Palo Alto, California-based Storylane, a social-networking startup that focuses on personal stories, the companies announced. Financial terms of the deal were not disclosed.
As part of the deal, Facebook will acquire Storylane's team of five employees, including its chief executive, Jonathan Gheller. This is essentially a talent-oriented deal, as Facebook did not acquire user data from the company and will be shutting down the Storylane service.
Storylane's website currently says it is not accepting new signups anymore, and links to a blog post announcing the acquisition.
"After a lot of discussions with Facebook about how our teams might work together to have even greater impact, we are announcing today that the Storylane team will be joining Facebook," Gheller wrote in the note.
Founded two years ago, Storylane's mission was "to help people better communicate who they are and what they care about, improve the way we do business with each other, find love and make new friendships," Gheller wrote. Unlike services like Twitter, which allow users to share short updates, Storylane encouraged users to tell longer stories about their lives.
In a statement, a Facebook spokesman said the team from Storylane will be "an incredible addition" to the company. "Their previous work showcasing real identity through sincere and meaningful content will make them a perfect fit at Facebook," he said.
In other Facebook news, the social network this week took the wraps off a new News Feed, which gives it a more contained, organised look while also providing the option to drill down on things like photos and games.