According to a source close to Gowalla, Facebook has bought the location sharing service "Gowalla" for an undisclosed sum, reports CNN. "Launched in 2009, Austin-based Gowalla went head-to-head with direct rival Foursquare -- and lost. Badly trailing Foursquare in user adoption, Gowalla recently shifted directions, recasting itself as a travel guide."
The site had raised around $10 million over the years from backers including the Founders Fund, Greylock Partners and a collection of angel investors.
According to CNN report most of the Gowalla's employees, including founder Josh Williams, will move to Facebook's offices in Palo Alto. The team will work on Facebook's Timeline feature, which launched at this year's F8 conference and is gradually rolling out to Facebook's 800 million members.
Some Gowalla employees will stay in Austin and work out of Facebook's local office there.
"It's a perfect match," said the source, who asked not to be identified because the deal has not yet been publicly announced. "As far as the big picture, Gowalla's vision is about people telling stories, and Facebook's vision for Timeline is about stories about important moments in life."
Whether or not Gowalla's app will remain alive has not yet been determined. Facebook has a habit of buying promising startups and killing them off to deploy their engineers and developers on other projects. Its hit list includes Beluga, Hot Potato, Drop.io, Snaptu, Digital Staircase, among more than a dozen others.
Gowalla and Facebook both declined to comment on the deal. Howerver, Facebook says "We don't comment on rumor and speculation," a company spokesman said.