Mfarhanonline Social Media News: Facebook has scooped up another startup in its path toward mobile dominance . This time, it’s Glancee, an ambient location-based service that competes with Highlight . From Glancee’s home page: “We started Glancee in 2010 with the goal of bringing together the best of your physical and digital worlds. We wanted to make it easy to discover the hidden connections around you, and to meet interesting people. Since then Glancee has connected thousands of people, empowering serendipity and pioneering social discovery. “We are therefore very excited to announce that Facebook has acquired Glancee and that we have joined the team in Menlo Park to build great products for over 900 million Facebook users. We’ve had such a blast connecting people through Glancee, and we truly thank our users for being a part of the Glancee community.” Less than a month ago, Facebook acquired the mobile-based photo-sharing app Instagram for $1 billion, and the world’s largest social network has expressed its sights are set on mobile. Glancee fits the bill. It was one of the hot passive location startups at SXSW this year, along with Highlight and Sonar . Facebook’s just weeks away from an initial public offering. The company announced its shares would be priced at $28 to $35, putting the company at a valuation of $85 billion and $95 billion. Facebook did not disclose the terms of the Glancee acquisition. How do you think Glancee’s service might change Facebook on mobile? Push notifications when you’re near friends? Would you like Facebook to be able to do that? Tell us in the comments. What Is an IPO? What exactly is an IPO? What are the risks to a company in going public? What are the legal requirements? If you find the business terms and market lingo confusing, check out our explainer video, whi! ch break s down an IPO in plain language. For more details on how Facebook got to its IPO, check out the slideshow below. 2004: First Offers Turned Down Facebook launches with humble beginnings that most people have seen dramatized in The Social Network by now. It was a small social site backed by only a little money, and limited just to the undergrads at Harvard. Right out of the gate, Facebook turned down offers from an unknown investor and Friendster, each offering $10 million. This was, of course, when the company was still called TheFacebook. Image courtesy of Flickr . Click here to view this gallery. Thumbnail image courtesy iStock Photo , youngvet More About: Facebook , Glancee , Highlight , trending Social Media reviews series maintain by Mayya
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