Will generate new 'products' to allow users to find new places and people.
Glancee launched as a mobile app two years ago, connecting users with similar interests based on their location.
Now, Facebook has acquired the startup, in turn providing the former with new 'products' that will strengthen its mobile platform, an area of key importance as over 500 million Facebook users access the network via phones and tablets.
Glancee, said: "We are very excited to announce that Facebook has acquired Glancee and that we have joined the team in Menlo Park to build great products for over 900 million Facebook users.
"We've had such a blast connecting people through Glancee, and we truly thank our users for being a part of the Glancee community."
The Glancee app will no longer be available, and the buyout comes just weeks after Facebook paid $1 billion for photo-sharing app Instagram.
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