Gowalla Sold To Facebook, Says Report

Austin-based Gowalla, the developer of location guides, which initially started as a location-based check in company, has been acquired by Facebook, according to reports. CNNMoney said that a source close to Gowalla disclosed the deal. Financial details of the buy were not disclosed. CNN said that Gowalla's team will move to Facebook to work on that firm's Timeline product. The sale comes after an attempt by Gowalla to pivot its firm into travel- and location-guides, and away from location-based checkins, after failing to make headway against Foursquare and Facebook.