"At one point, Facebook was willing to take those risks. When Facebook bought Parse in 2013, Facebook’s stock was below its initial public offering price of $38. The company had not grown a robust mobile advertising yet, and Facebook was eager to seek out other lines of business in hopes of future profits, according to two people with knowledge of the company’s plans at the time who requested anonymity because they were not authorized to speak for the company.Facebook to Shut Down Parse, Its Platform for Mobile Developers - The New York Times
Parse seemed like a good opportunity for expansion. At the time, Internet businesses were in the midst of a major industry change, as users were shifting away from desktop computing and increasingly relying on mobile devices. Parse, the thinking went, could provide Facebook the opportunity to be the foundation of a whole new generation of developers building mobile apps in the age of the smartphone."
Friday, January 29, 2016
Facebook to Shut Down Parse, Its Platform for Mobile Developers - The New York Times
Hopefully the Parse team received stock when their company was acquired; FB closed at ~$109 yesterday