Facebook to Acquire Zhanzuo.com

According to news reports, social networking giant Facebook is planning to acquire Chinese Social networking giant Zhanzhuo.com - A portal with 7 million users. It is believed that Facebook is offering $85 million for the acquisition and the talks between Zhanzuo.com CEO Jack Zhang and Mark Zuckerberg are still on.

If it happens, the acquisition would multiply Facebook’s user base and reach which would make it world’s largest online market place.

Amongst the rankings, Zhanzuo is placed in the top 250 Chinese sites however, the site has been having decline in numbers according to Alexa and Compete.

Zhanzuo was funded by Sequoia China and Morningside Capital.

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