Gowalla, the location sharing service was bought by Face book, for an unrevealed figure, as per source nearer to Gowalla.

However Face book refuse to make any statement on the transaction.

A company spokesman asserts that they won’t comment on any assumption or gossips.

A majority of workers of the Gowalla together with its creator Mr. Josh Williams will be shifting to the Palo Alto offices of Face book. The group will function on the timeline feature of Face book, which was commenced on the F8 conference of this year and was progressing out to the 800 million associates of Facebook.

Gowalla was stared in the year 2009 with its base in Austin. It was on head on competition with the archrival Foursquare and lost to it. In the adoption of user, the Gowalla was trailing Foursquare badly and changed directions. As a travel guide, it was recasting itself. Over the years, the site was able to mobilize funds to the tune of $10 million from the supporters that include the Greylock Partners, Founders Fund, and a gathering of angel financiers.

Since the deal is not yet announced publicly, a source, which does not wish to recognize itself, said that it was an ideal match. As per the large picture is concerned the vision of Gowalla is inform the people about stories, and the vision of Face book meant for timeline is regarding narratives about life’s significant moments.

A few of the staffs of Gowalla will remain in Austin and will function from the local office of Face book.

But it is not sure whether the apps of Gowalla will stay alive or not. The face book is in the custom of purchasing startups that are hopeful, and destroying them off in order to install in other ventures, their developer and engineers. Some of the hit list comprise of Hot Potato, Beluga, Digital Staircase Snaptu, Drop.io, and a few others.

The takeover is observed by the Face book, as method to construct its talent bench. The director of corporate development of Face book, Mr. Vaughan smith said Bloomberg that his company intends to make 20 purchases in the year 2011, ten more than the previous year.