Hot High Tech News: Facebook Paid Farm Bureau $8.5 Million For Fb.com

Wednesday, January 26, 2011

Filed under: Facebook, Farm Bureau, FB, Mark Zuckerberg

Facebook Paid Farm Bureau $8.5 Million For Fb.com

Wednesday, January 26, 2011

According to Reuters, Facebook paid American Farm Bureau Federation a staggering $8.5 million to acquire FB.com last year. This amount is 42.5 times more than the amount company paid for Facebook.com witch was the last high-profile domain purchase. Fb.com was bought for sole purpose of Facebook’s new messaging platform which CEO Mark Zuckerberg announced back in november last year.

At first FB.com was intended to use only for internal employees for testing purpose, but for now on typing FB.com will redirect you to Facebook.com

The last high-profile domain purchase by Facebook was for Facebook.com, all the way back when it was known as TheFacebook. The company paid $200,000 in August 2005 to acquire the domain.

Farm Bureau, which uses fb.org as its primary domain revealed that the organization earned $8.5 million on the sale of “a couple of domain names”. This also suggests that the transaction included more then one web address besides FB.com.

While the Facebook.com purchase was expensive for the company back then, it’s an investment that has clearly paid off. The company is obviously hoping that fb.com will also pay off.