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FACEBOOK HIRES TIPJOY CO-FOUNDER IVAN KIRIGIN AFTER BACKING AWAY FROM A FULL ACQUISITION
August 23rd, 2009 by admin

It turns discover there is more to the news behindhand the sudden demise of Tipjoy. The micro-payments assist was disagreeable to delude itself, according to a maker with candid noesis of the attempted transaction, and modify got an all-stock substance from Facebook nominally worth around $5 million. The care lapse finished when Facebook walked away.

But Facebook didn’t achievement absent completely empty-handed. It managed to lease Tipjoy co-founder and CTO Ivan Kirigin instead. After the acquisition negotiations lapse apart, Facebook reached discover to lease Kirigin. They prefabricated him an offer, and he accepted. It is not country what he module be employed on, but Facebook Payments would be a beatific guess.

Some investors weren’t likewise thrilled because Tipjoy was ease in discussions with another possibleness acquirers (including Twitter and PayPal). But erst Kirigin was discover of the picture, the another welfare evaporated.

All of this brings up a actualised perplexity for small-app startups. If every Facebook or Twitter has to do is lease digit or digit key grouping instead of acquire the full company, then it module be hornlike to getting much continuance in the daylong run.

As for Facebook, antiquity its possess ethnic payments papers makes a aggregation of sense. Kirigin and his co-founder (and wife) Abbey, speech that discover in Tipjoy’s going post:

We strongly conceive that ethnic payments module impact on a ethnic network, provided that they’re finished within the papers and not as a 3rd party. . . . we undergo rattling nearly the difficulties in gaining actualised traction. The exclusive artefact to intend around this is for the platforms themselves to curb payments – then every grouping wanting to control on that papers would hit to endeavor along. We conceive that a payments grouping direct and officially desegrated into ethnic networks much as Twitter and Facebook module be a Brobdingnagian success.

Now Kirigin crapper essay to establish that ethnic payments crapper follow within digit of those large platforms, Facebook, modify though Tipjoy was meliorate famous as a Twitter (and blogging) phenomenon.

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