Facebook Bags File- Sharing Service Provider

Facebook has acquired most of the assets of file-sharing service provider drop.io in a deal which will see the company wind-down by December and its founder move to the social networking giant.

Drop.io is an online collaboration and file-sharing service which uses the concept of user-controlled personal sharing points known as 'drops' through which users can upload and share content privately via a drag-and drop interface.

Facebook will gain most of the New York based start-up's technology and assets, drop.io revealed in a blog post.

Its founder, Sam Lessin, will be moving to Facebook full time where presumably he will work on developing similar services to be integrated into the social network.

"In the coming weeks, we'll be winding down the drop.io service. As of this week, people will no longer be able to create new free drops, but you'll be able to download content from existing drops until 15 December," noted the posting.

"Paid user accounts will still be available through 15 December and paid users will be able to continue using the service normally. After 15 December, paid accounts will be discontinued as well."

The firm said that other drop.io services like Presslift, its Yahoo Mail application, and APIs will stay online for a longer period before the company winds down.

"We'll announce more details on that soon. However, starting immediately, we'll no longer be selling new premium accounts for those services," it explained.

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