Financial details of the deal were not disclosed, but The Verge pegged the price at “around $15 million.” The 10-person team won’t have to relocate as it will be forming a new Conversations group in charge of building Branch “at Facebook scale.”
“After two years building Branch and Potluck, I am thrilled to announce that we will be continuing our mission at Facebook,” Miller wrote in the post.
He said: “Their pitch to us was: “Build Branch at Facebook scale!”
“Although the products we build will be reminiscent of Branch and Potluck, those services will live on outside of Facebook. A more thoughtful note and details to come soon but I am writing this haphazardly from a mountain in Japan (I was tipped that the story was going to leak while on vacation).
Branch is a platform for hosting and publishing invite-only conversations, while its sister product Potluck is a web and mobile app, which is designed for friends to talk about news and other topics.
Branch Media was backed by Evan Williams, Biz Stone, and Jason Goldman’s Obvious Corp, Jonah Peretti and Lerer Ventures, John Borthwick’s Betaworks, Ron Conway’s SV Angel, and an undisclosed of angel investors.