Facebook Acquires Parakey

Facebook was founded in 2004 by a student of Harvard University Mark Zuckerberg. The social networking site was initially established for University students only. But later it was opened for everyone. Its members could store information on the web and share it with their friends.

Parakey is an internet start-up company founded in 2006 by Blake Ross and Joe Hewitt, who are the creators of Mozilla Firefox web browser. Parakey aims to build a bridge between the information easily created and stored on the PCs and joint information available on the web.

Here is what Parakey’s site says about their intentions: "Computers are frustrating. Creating documents, finding files, sharing information - why do everyday things still seem so tedious and counterintuitive?"

Ross, 22, and Hewitt, 29, described their plans to create a so-called webOS. Web browser users could share information their with friends, family, colleagues. The browser would act as a social network, not only just a tool to browse information.

They aimed to make the browser both useful and social. They also intended to open the project for third-party developers, so that the users could have access to different applications.

"The work they've done with Firefox and Parakey and their approach to building products fit right in at Facebook," said Mark Zuckerberg, 23. HULIQ