Google has officially acquired Slide, the social application company founded by PayPal co-founder Max Levchin, in an effort to “make Google services socially aware.”
The news of the acquisition surfaced earlier this week, so the announcement comes as no surprise. According to TechCrunch, the sale price was $182 million with an agreement to pay an additional $46 million in employee retention bonuses. While a decent exit by most standards, it’s a far cry from its massive $500 million valuation in 2008.
In its announcement, Google says that it is “working to develop open, transparent and interesting (and fun!) ways to allow our users to take full advantage of how technology can bring them closer to friends and family and provide useful information just for them.”
In other words, Google’s getting very serious about social. While the company didn’t reveal any major product plans, the acquisition is very likely related to its rumored Google Me social network and its $100-$200 million investment in Zynga, the creators of FarmVille.
For his part, Max Levchin echoes the same sentiments. “Google is committed to building new, open and better ways for users to connect with others,” he said in an open letter. “At Slide, we have been focused on building online communities that foster self-expression, creativity and engagement across multiple platforms. Given our shared vision and values, this is a tremendous opportunity for the two companies to come together to change the way people socialize on the web.”
Can Slide’s technology and team turn Google into a social powerhouse? We’ll have to wait and see, but it’s clear that Facebook is rapidly gaining ground and Google doesn’t have a lot of time to figure out the social web.
