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
This time it's 'Personal': new Office 365 sub covers just two devices
Redmond also brings Office into Google's back yard
Oh no, Joe: WinPhone users already griping over 8.1 mega-update
Hang on. Which bit of Developer Preview don't you understand?
Microsoft lobs pre-release Windows Phone 8.1 at devs who dare
App makers can load it before anyone else, but if they do they're stuck with it
Half of Twitter's 'active users' are SILENT STALKERS
Nearly 50% have NEVER tweeted a word
Internet-of-stuff startup dumps NoSQL for ... SQL?
NoSQL taste great at first but lacks proper nutrients, says startup cloud whiz
IRS boss on XP migration: 'Classic fix the airplane while you're flying it attempt'
Plus: Condoleezza Rice at Dropbox 'maybe she can find ... weapons of mass destruction'
Ditch the sync, paddle in the Streem: Upstart offers syncless sharing
Upload, delete and carry on sharing afterwards?
New Facebook phone app allows you to stalk your mates
Nearby Friends feature goes live in a few weeks
Microsoft TIER SMEAR changes app prices whether devs ask or not
Some go up, some go down, Redmond goes silent
prev story

Whitepapers

Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
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.
Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.