Please note: This ran as our 2014 April Fools' Day joke. If you're coming to this later on, that context is important.
MENLO PARK, CALIF. AND SOMERVILLE, MASS. – March 31, 2014 – Facebook announced today that it has reached a definitive agreement to acquire EchoDitto, a veteran digital services agency, for a total of approximately $3 billion, including $1 billion in cash and an additional $2 billion in restricted Bitcoins to be granted to EchoDitto's founders and employees that will vest over four years subsequent to closing.
EchoDitto has built a leading digital strategy and development practice, with:
The acquisition is part of a new Facebook initiative to encourage users to share, comment, and Like socially important content. The combination will help combat the vain and tedious updates prevalent on Facebook News Feed. This new effort is expected to reach to all corners of Facebook, including recent product acquisitions like Instagram, WhatsApp, and Oculus Rift?
"EchoDitto is on a mission to help organizations and individuals understand how the internet can help them realize a better world. Companies like ours need a conscience like that," said Mark Zuckerberg, Facebook founder and CEO. "I read what each of you share and Like on Facebook and, to be painfully frank, it's the dumbest. It's time we encourage our users, and ourselves, to bring a real purpose when connecting to people online."
Nicco Mele, EchoDitto co-founder and author of The End of Big, said, "EchoDitto's success is driven by helping others communicate their mission to like-minded people through the creative use of technology. We cannot wait to reverse the decision to charge you to share your content with only a fraction of your fans and followers."
Facebook fosters an environment where independent-minded entrepreneurs can build companies void of any sustainable business model, set their own direction as long as it involves selling advertisements, and focus on growth. Just growth. EchoDitto wants to bring meaning and purpose for good to the social network. And a sense of humor. And a bigger beer fridge. And maybe some of those cool new gadgets everyone is talking about. You know the ones.
"With our thirty talented employees focused on an eventual payout, we really think EchoDitto and Facebook will make an excellent combination," said Nicco Mele. "One of the first things our team of fifty have to tackle is Mark's personal 'Socl Rollr Coastr'. It's a rollercoaster powered solely by the energy derived from burning passive aggressive status updates in a furnace retrieved from Middle Earth. It's going to take all 100 of us to build it."
Facebook's mission is to give people the power to share and make the world more open and connected. People use Facebook to stay connected with friends and family, to discover what's going on in the world, and to share and express what's happening on Scandal.
Before selling out its amazing clients for one large bag with a single dollar sign on it, EchoDitto designed participatory campaigns and built technical tools for individuals and organizations to make the world a better place. This one time we also wrote a fake press release.