While it is in a well aware fact now that Facebook is building its war chest for blockchain, from open hiring to acquiring top talent from the street. But last week news of acquisition blockchain start-up Chainspace took a lot of people by surprise as the Social Media Giant was moving much faster than expected with blockchain.
Is acquisition the way for Facebook?
Since blockchain became prominent and people start recognizing and realizing its advantage, a lot of mainstream tech companies turned towards this newest tech kid on the block. Facebook too took a lead here but it remained officially silent on most part of its plan with respect to the blockchain. Although there have been several reports of the company hiring and recruiting blockchain developers not many had expected Facebook to take an acquisition route.
While the news is still fresh in the minds of people, a tech news website The Information has come out with a report stating that Chainspace is not the only startup Facebook was talking too and its sources say that Facebook may be scouting a few more startups to fuel its blockchain dream,
Going to the article one thing stands out it that Facebook is acquiring these startup as a hiring mechanism or what they call it as “aqui-hire”. The report states that One investor told The Information that Facebook had approached him multiple times about making an acquisition of a company from his portfolio as a way to hire engineering talent. Another person familiar with the matter said Facebook was contemplating deals worth tens of millions of dollars.