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Facebook checks in with Gowalla

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Facebook has bought the location-based service Gowalla, according to CNNMoney.

Neither party has confirmed the transaction, but speculation that an announcement is imminent was sparked by CNNMoney on Friday.

According to the report, Facebook has acquired the Texas –based Gowalla team and is to incorporate the service into Facebook’s Timeline feature, which allows users to document their lives in a single vertical page stream.

Gowalla launched in 2009 and was an early Foursquare competitor. It has raised $10.4m in funding. Investors include Kevin Rose and Jason Calacanis and VC firms such as Greylock Partners, Shasta Ventures and Founders Fund. ®

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