Facebook purchases Gowalla, CNN Money reports

Facebook has just purchased location sharing service Gowalla for “an undisclosed sum,” according to CNN Money. A “source close to Gowalla” says much of the team will move into Facebook’s Palo Alto offices in order to focus on Facebook’s soon-to-be-launched Timeline feature. This news comes just a few months after Gowalla launched a completely redesigned suite of apps that reflected a new direction of creating “Social Guides” for your friends and family, which lines up quite well with Timeline’s aims. The source told CNN Money, “As far as the big picture, Gowalla’s vision is about people telling stories, and Facebook’s vision for Timeline is about stories about important moments in life.” While Gowalla has lagged behind Foursquare for years in terms of user base, the acquisition should help boost Facebook Places and location sharing.