In an effort to stay at the head of the social media pack, Facebook is looking to improve its products and services. To accomplish this, it’s looking to acquire approximately 20 companies this year, which would double the number of their total acquisitions in 2010.
With technology becoming more mobile, Facebook’s most recent acquisitions are centered around improving mobile access and user interfaces to maintain its social media foothold as the top dog against giants like Google.
Facebook’s director of corporate development Vaughan Smith commented on the recent acquisitions, admitting the threat of growing competition and also emphasizing the company’s focus on entreprenureship:
“Facebook is betting that a focus on design will entice people to spend more time on the site, while adding mobile services can cater to the growing number of members using handheld devices. As it grapples with competition from Google and Twitter, Facebook also must bolster its system so the site runs smoothly amid rapid growth. The company has made 13 acquisitions so far this year, including adding a mobile group- messaging service it rolled out to users this month. Two years ago we didn’t have a track record in acquisitions. While we expected them to work well, it was still a crapshoot how they’d turn out. We’ve built a culture that supports entrepreneurs, and it’s working incredibly well.”