Google acquires Slide to boost social media capability

Pay-Pal co-founder Max Levchin started Slide in 2004. The company's value peaked in 2008 when it was estimated to be worth $500 million.

David Glazer, engineering director at Google, wrote on the company's official blog, “While we don’t have any detailed product plans to share right now, we’re thrilled to welcome Max and his very talented team to Google.”

According to TechCrunch, a source close to the acquisition said Google agreed to pay US$182 million to acquire Slide plus US$46 million extra in employee retention bonuses, bringing the total investment up to $228 million.

In 2007 Slide was the largest Facebook app supporter with big hits including Top Friends and SuperPoke.

The digital industry assumes Slide will help Google boost its current business direction towards stronger social media capability. Despite pulling the plug on social networking service Google Wave last week, the company is still rumoured to be working on social media platform Google Me.