Facebook enriches custom promotions on videos, news with Tugboat Yards Acquisition

Facebook has has acquired San Francisco based startup Tugboat Yards. Under this acquisition, Tugboat Yards will down its shutters on June 30, and its entire team will join Facebook's Product team, working on media products including video and news.

What Tugboat Yards offered?

The startup based in San Francisco offers publishers/media a way to “promote custom offers" at their audiences as a way to gain support. That's why the name TugBoat yards.

Anyone with an app, website, podcast, etc. could create an account free of cost, and use it to get support from its own audiences. Thus, in order to use Tugboat yards, you should have some online property or online product service for which you want to get support. This way the Start-up ensured that only a specific group join the service.

What Facebook will gain from the Tugboat Yards Acquisition

Facebook plans to enrich its media products including videos and news, with this acquisition. This can be read as ability to create more money. Which is justified.

What money exchanged hands is not disclosed.

At the time of writing this post,  the ability to create a new publisher account at Tugboat Yards has been disabled. Subscriptions that already exist will renew up until June 30. New account creation will only be available to those who need to finish a purchase.

The Tugboat Yards existing customers will be able to export their existing data till July 15.

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