Think Of Facebook Inc (FB) As A ‘Mini Google’

facebookFacebook Inc (NASDAQ:FB) is ramping up its acquisition and expansion strategy, leaving some traders wondering if the social media company is walking in Google’s footsteps.

After two major announcements this week, including a $2 billion acquisition of virtual reality company Oculus and word that the company plans to explore technology that uses drones to beam internet to underserved parts of the world, Facebook is moving beyond its social media roots.

Earlier this year, Facebook also bought messaging service WhatsApp for $19 billion, including $4 billion in cash.

Related: Complete List Of Global X Social Media Index ETF (SOCL) Holdings

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