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"Facebook has scooped up another startup in its path toward mobile dominance. This time, it's Glancee, an ambient location-based service that competes with Highlight. \nFrom Glancee's home page: \n\n\"We started Glancee in 2010 with the goal of bringing together the best of your physical and digital worlds. We wanted to make it easy to discover the hidden connections around you, and to meet interesting people. Since then Glancee has connected thousands of people, empowering serendipity and pioneering social discovery. \n\"We are therefore very excited to announce that Facebook has acquired Glancee and that we have joined the team in Menlo Park to build great products for over 900 million Facebook users. We've had such a blast connecting people through Glancee, and we truly thank our users for being a part of the Glancee community.\"\n\nLess than a month ago, Facebook acquired the mobile-based photo-sharing app Instagram for $1 billion, and the world's largest social network has expressed its sights are set on mobile. \nGlancee fits the bill. It was one of the hot passive location startups at SXSW this year, along with Highlight and Sonar. \nFacebook's just weeks away from an initial public offering. The company announced its shares would be priced at $28 to $35, putting the company at a valuation of $85 billion and $95 billion. Facebook did not disclose the terms of the Glancee acquisition.\nHow do you think Glancee's service might change Facebook on mobile? Push notifications when you're near friends? Would you like Facebook to be able to do that? Tell us in the comments.\nWhat Is an IPO?\nWhat exactly is an IPO? What are the risks to a company in going public? What are the legal requirements?\nIf you find the business terms and market lingo confusing, check out our explainer video, which breaks down an IPO in plain language.\n\n\n\n\n\nFor more details on how Facebook got to its IPO, check out the slideshow below. \n\n\nFacebook's Road to IPO\n\n\n\n\n\n\n\n2004: First Offers Turned Down\n\nFacebook launches with humble beginnings that most people have seen dramatized in The Social Network by now. It was a small social site backed by only a little money, and limited just to the undergrads at Harvard. Right out of the gate, Facebook turned down offers from an unknown investor and Friendster, each offering $10 million. This was, of course, when the company was still called TheFacebook.\nImage courtesy of Flickr.\n\n\n\n\n\n\n\n\n\n\n\n2005: Serious Interest\n\nBy 2005, \u201CTheFacebook\u201D was becoming more and more interesting to potential investors. They waved off bids from the likes of NBC, The Washington Post Group, and two separate attempts from both MySpace and Viacom/MTV.\nImage courtesy of wwwes; Flickr.\n\n\n\n\n\n\n\n\n\n\n\n2006: Microsoft &amp; Yahoo Come Calling\n\nFacebook became more legitimized as it moved into more colleges, and then expanded to the public. Microsoft signed a large advertising deal with Facebook, an event that began a long, positive relationship between the two companies.\nJust a month later, Yahoo made a $1 billion offer to buy Facebook, but it was rebuffed after Yahoo\u2019s stock dropped and the company had to lower to $800 million.\nImage courtesy Ludovic Toinel; Flickr.\n\n\n\n\n\n\n\n\n\n\n\n2007: Forging an Alliance\n\nAfter a lucrative advertising relationship, Microsoft invests heavily in Facebook, putting in $240 million for 1.6% stake in the company. This raised Facebook\u2019s estimated worth to $15 billion, after only three years of existence. Despite this, Zuckerberg said the possibility of an IPO is \u201Cyears out.\u201D \nImage courtesy of iStockphoto, michalPuchala\n\n\n\n\n\n\n\n\n\n\n\n2008: Valued at $4 Billion\n\nIn an interview with 60 Minutes in January, Mark Zuckerberg said there was no chance of a Facebook IPO that year. In August, Facebook gave itself a valuation of $4 billion, then began letting fully vested employees sell 20% of their stock based on that valuation.\nImage courtesy of 60 Minutes.\n\n\n\n\n\n\n\n\n\n\n\n2009: More Investment\n\nFacebook gets $200 million investment from Russian Digital Sky, who bought 1.96% of the company with that. That investment raised Facebook\u2019s valuation to $10 billion.\nTwo other estimates of wealth came out later in 2009 that lowered Facebook\u2019s valuation, probably as more terms of the deal with Digital Sky became clear.\nImage courtesy dborman; Flickr.\n\n\n\n\n\n\n\n\n\n\n\nMarch 2010: Zuckerberg Talks IPO Rumors\n\nZuckerberg is still coy about an IPO, saying there is \u201Cno rush,\u201D and proving that Facebook doesn\u2019t need the money. \nImage courtesy of JD Lasica; Flickr.\n\n\n\n\n\n\n\n\n\n\n\nNovember 2010: Valuation Climbs\n\nTrading on secondary markets suggests Facebook is the third most valuable web company in the United States. As private investors sold their stakes, valuations of the company soared as high as $56 billion.\nImage courtesy Dan Farber; Flickr.\n\n\n\n\n\n\n\n\n\n\n\nJanuary 2011: First IPO Moves\n\nGoldman Sachs and Digital Sky Technologies drop a massive $500 million cash infusion into Facebook, pushing its value upwards of $50 billion. According to USA Today, that valuation exceeds companies like eBay and Nike.\nFacebook also launches an $1.5 billion equity offering through Goldman Sachs, letting some private investors buy a piece of Facebook.\nImage courtesy of AMagill; Flickr.\n\n\n\n\n\n\n\n\n\n\n\nJune 2011: The $100 Billion IPO?\n\nReports circulate that Facebook\u2019s IPO could exceed $100 billion, and that it might go public during the first quarter of 2012. \nImage courtesy of Andrew Feinberg; Flickr.\n\n\n\n\n\n\n\n\n\n\n\nJanuary 2012: IPO Imminent\n\nFacebook halted trading of its shares in secondary markets for three days starting Jan. 25, a possible indicator the company\u2019s long-awaited IPO is coming soon. \nThe signs were correct, as Facebook announced its IPO on Feb. 1, ending the stream of speculation.\nImage courtesy J. Fudyama-Powers; Flickr.\n\n\n\n\n\n\n\n\n\n\n\nApril 2012: Facebook Purchases Instagram\n\n\nFacebook announced it was purchasing popular photo-sharing service Instagram for $1 billion in April. The deal was reportedly brokered by Zuckerberg himself, and was a major acquisition for the company.\nImage courtesy of iStockphoto, sd619\n\n\n\n\n\n\n\n\n\n\n\nMay 2012: Facebook Goes Public\n\nFacebook is set to go public May 18, and the IPO could raise $90 to $104 billion. No one can be sure until trading closes though.\nImage modified, courtesy Robert Scoble, Flickr.\n\n\n\n\n\n\n\n\n\nThumbnail image courtesy iStock Photo, youngvet\n"^^<http://www.w3.org/2001/XMLSchema#string>
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