Feeds

Google drops cash on virtual currency firm Jambool

Yet another wink at Web2.0 wench

High performance access to file storage

Google has bought a virtual currency software firm as part of its latest effort to build a Web 2.0 empire by scooping up social networking outfits.

Jambool confirmed on Friday that it had joined “the Google family”. However, financial terms of the deal were kept quiet.

The company started life as a social collaboration platform in 2006. A year later it began building applications on social networks that allowed the firm to punt virtual currency and goods to any brave soul willing to part with cash online.

“Social Gold has grown by leaps and bounds since it went live in 2008. In the first half of 2010, we've processed more than double the entire payment volume we processed in all of 2009,” said Jambool.

“When the opportunity arose to join forces with Google… we couldn't pass it up. We are thrilled to bring the Social Gold platform to Google's global users.”

Last week Google bought social network tech outfit Slide for an undisclosed sum in its latest effort to tackle Facebook’s Web 2.0 dominance.

That buy came just 48 hours after Google killed its Wave tool, which made a splash landing in May 2009. But within a year of its birth, the email-IM-and-everything-else-Web-2.0-splatter-gun platform had proved itself to be an unpopular product that no one wanted to play with.

Google’s latest efforts to bolt on social network startups to its portfolio simply represent the company’s latest desire to out-Facebook Facebook. But it’s failed so far to come anywhere near unseating boydroid Mark Zuckerberg and his crew. ®

High performance access to file storage

More from The Register

next story
Android engineer: We DIDN'T copy Apple OR follow Samsung's orders
Veep testifies for Samsung during Apple patent trial
Microsoft: Windows version you probably haven't upgraded to yet is ALREADY OBSOLETE
Pre-Update versions of Windows 8.1 will no longer support patches
OpenSSL Heartbleed: Bloody nose for open-source bleeding hearts
Bloke behind the cockup says not enough people are helping crucial crypto project
Half of Twitter's 'active users' are SILENT STALKERS
Nearly 50% have NEVER tweeted a word
Windows XP still has 27 per cent market share on its deathbed
Windows 7 making some gains on XP Death Day
Internet-of-stuff startup dumps NoSQL for ... SQL?
NoSQL taste great at first but lacks proper nutrients, says startup cloud whiz
US taxman blows Win XP deadline, must now spend millions on custom support
Gov't IT likened to 'a Model T with a lot of things on top of it'
Microsoft TIER SMEAR changes app prices whether devs ask or not
Some go up, some go down, Redmond goes silent
prev story

Whitepapers

Mainstay ROI - Does application security pay?
In this whitepaper learn how you and your enterprise might benefit from better software security.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.