IT Buoy

It turns out there is more to the story behind the sudden demise of Tipjoy . The micro-payments service was trying to sell itself, according to a source with direct knowledge of the attempted transaction, and even got an all-stock offer from Facebook nominally worth around $5 million. The deal fell through when Facebook walked away. But Facebook didn’t walk away completely empty-handed. It managed to hire Tipjoy co-founder and CTO Ivan Kirigin instead. After the acquisition negotiations fell apart, Facebook reached out to hire Kirigin. They made him an offer, and he accepted.

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Facebook Hires TipJoy Co-Founder Ivan Kirigin After Backing Away From A Full Acquisition