Glancee is a mobile location-based app similar to Foursquare, but instead of checking in to places, you are brought into a "social discovery" experience by alerting you and encouraging you to connect with friends.
Through alerts and messages, a Glancee user can discover their hidden connections from other people, meet individuals with their similar interests and feel empowered to meet new friends.
Facebook announced, "We can't wait for co-founders Andrea, Alberto, and Gabriel to join the Facebook team to work on products that help people discover new places and share them with friends."
The terms of the purchase and other details are not disclosed. This news has definitely pushed more optimistic fundamentals to the upcoming IPO of Facebook to the stock market.